Altice seeks to reassure investors, plans disposal of non-core assets

Monday 20 November 2017 | 10:53 CET | News

Altice issued a statement saying that it has no plans for equity-linked cash raising, in response to recent market speculation. Its share price has fallen significantly since early November, when the group's third quarter results failed to convince investors, particularly over progress in the turnaround of its French operations.

In its statement, Altice confirmed that it aimed to de-leverage its balance sheet and, to this end, it was considering the disposal of non-core assets in Europe, including its tower portfolio, as early as the first half of 2018. As a result, any new meaningful M&A activity is excluded for the time being.

Altice also said that the group had no margin loan problems, and that it held a strong liquidity position through its main subsidiaries.

Altice's CEO Michel Combes resigned on 10 November as part of a top management reshuffle and the group's founder Patrick Drahi has been reappointed president of the board, after stepping down last year.

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