BC Partners offloads remaining Altice USA stake

13 Aug 2020

Altice USA has confirmed that long-term shareholder BC Partners has exited the business, noting: ‘After the market close today [12 August], funds advised by BC Partners elected to sell approximately 17.3 million Altice USA Class A shares, representing all of their remaining stake in the company.’ Consistent with Altice USA’s share repurchase programme, the company elected to purchase around 6.9 million of these shares, for a total consideration of USD187 million.

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

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