Altice formally completes split into two companies
11 June 2018 | Alan Burkitt-Gray
Altice has now separated into two independent companies, Altice Europe and Altice USA.
The move marks the end of a bold experiment by Patrick Drahi – who remains the majority shareholder of both companies – to build a transatlantic telecoms empire.
Altice USA, which is quoted on the New York Stock Exchange, delivers broadband, pay television, telephony services, proprietary content and advertising services to approximately 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands. Drahi is its chairman.
Altice Europe, listed on Euronext Amsterdam, includes SFR, the French mobile and fixed operator, plus the former Portugal Telecom – now PT Telecom. It also owns two businesses outside Europe, the HOT cable operator in Israel, which also provides mobile and internet services, and mobile company Altice Dominicana in the Dominican Republic in the Caribbean.
Drahi is executive director of Altice Europe until 2022.
Alexandre Pébereau’s Tofane Group has an agreement to buy Altice Europe’s wholesale voice carrier business in France, Portugal and the Dominican Republic.
Altice Dominicana was originally Orange’s operation in the country until the French group sold it to Altice.