Canada Pension Plan offloads Altice USA stake

6 May 2020

The Canada Pension Plan Investment Board (CPP Investments) has sold 11.2 million Altice USA Class A shares to a broker dealer, representing substantially all of its remaining stake in the company. Consistent with Altice USA’s share repurchase programme, the company elected to purchase approximately 2.2 million of these shares directly from the broker dealer, for a total consideration of approximately USD52 million.

Altice USA serves residential and business customers across 21 states through its Optimum and Suddenlink brands. CPP Investments inherited its stake in the enlarged business in 2015 as a result of its pre-merger shareholding in Suddenlink.

United States, Altice USA (incl. Optimum, Suddenlink), Next Alt