Altice Europe sells most of remaining shares in Altice USA

News Broadband United States 23 JUN 2020
Altice Europe sells most of remaining shares in Altice USA

Altice Europe has sold nearly all its shares in Altice USA. The US operator announced that Altice Europe sold 17.9 million shares to a broker dealer, representing substantially all of its remaining stake in the company. Altice USA acquired around 3.6 million of these shares from the broker, as part of its share buyback programme, for a total consideration of USD 85 million.

There was no statement from Altice Europe about the transaction. The operator spun off the US activities in 2018, when it renamed its other businesses as Altice Europe. Based on the company's latest share price, the sale of the Altice USA shares should result in gross proceeds of around USD 435 million. 

Categories:

Fixed

Companies:

Altice Europe,  Optimum Mobile

Countries:

United States

Tags:

Shareholders & subsidiaries, M&A buyouts & divestments

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