Altice completes Suddenlink acquisition
22 December 2015 |
European telco Altice has completed its acquisition of Suddenlink, first announced in May this year.
Altice now owns 70% of the US cable firm, with BC Partners and CPP Investment board retaining a 30% stake.
“With this acquisition, Altice has officially entered the large and attractive US cable market, further diversifying and balancing its portfolio of high-quality businesses,” Altice said in a statement.
Altice spent $9.1 billion on the stake which will create the fourth largest cable TV provider in the US.
Later in September 2015, Altice said it plans to pause its spending spree.