Altice may seek private equity help for Charter bid - report

Tuesday 15 August 2017 | 10:16 CET | News

Altice is considering asking Canada Pension Plan Investment Board and BC Partners to help fund a potential bid to buy US cable operator Charter Communications, people with knowledge of the matter told Bloomberg. Altice hasn’t yet formally approached BC Partners and Canada Pension about joining a bid and may decide not to proceed with an offer, the report said. All three companies declined to comment. 

Help from the private equity funds would be needed to pay the steep price tag for Charter, which has a market capitalisation of around USD 120 billion, compared to USD 23 billion for Altice USA and EUR 30.7 billion for Altice. 

Altice has worked with Canada Pension and BC Partners before, when it bought their stakes in Suddenlink in 2015. The pair later agreed to buy a USD 1 billion stake in Cablevision Systems to finance Altice’s USD 17.7 billion purchase of the US cable company. As part of the first transaction, the funds negotiated an option to invest alongside Altice on any future deals in North America.

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