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Altice's Drahi says management wasn't ready for TWC takeover

Thursday 28 May 2015 | 08:46 CET | News
Altice founder and shareholder Patrick Drahi said he didn't bid for Time Warner Cable because his company lacked management resources to digest such a big deal in a market it had only recently entered. "I didn't follow up on the exchanges we had on Time Warner Cable (TWC) that were mentioned in the media because we were not ready," Drahi told a French parliamentary hearing reported by Reuters. Drahi met with TWC chief executive Robert Marcus last week, but decided not to move ahead despite having lined up French and foreign banks willing to finance the deal. TWC instead agreed a takeover

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Categories: Fixed
Companies: Altice Europe / Charter Communications / Comcast / Suddenlink / Time Warner Cable
Countries: United States
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