Altice completes purchase of 70 percent of cable operator Suddenlink

Mon Dec 21, 2015 1:04pm EST
 
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PARIS (Reuters) - European telecoms group Altice (ATCA.AS: Quote) said on Monday it had completed the purchase of 70 percent of U.S. regional cable company Suddenlink from existing shareholders in a deal worth $9.1 billion.

"With this acquisition, Altice has officially entered the large and attractive U.S. cable market, further diversifying and balancing its portfolio of high-quality businesses," Altice said in a statement.

It said BC Partners and CPP Investment Board retained a 30 percent stake in Suddenlink.

U.S. regulators approved the deal on Friday.

(Reporting by Bate Felix, editing by David Evans)

 
Dexter Goei, CEO of cable and mobile telecoms company Altice, attends a news conference in Saint-Denis, near Paris, France, November 9, 2015.  REUTERS/Benoit Tessier