Altice Europe offloads Altice USA stake

24 Jun 2020

Amsterdam-based Altice Europe has elected to sell 17.9 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 has elected to purchase approximately 3.6 million of these shares directly from the broker dealer, for a total consideration of approximately USD85 million.

As previously reported by TeleGeography’s CommsUpdate, in May this year Altice USA paid USD52 million to acquire 2.2 million shares previously held by another legacy investor, the Canada Pension Plan Investment Board, which also opted to exit the company.

Altice USA serves residential and business customers across 21 states through its Optimum and Suddenlink brands and offers MVNO services via Altice Mobile.

United States, Altice Europe (formerly Altice Group), Altice USA (incl. Optimum, Suddenlink)