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Altice Close to $17.7 Billion US Cable TV Takeover

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Fast growing European telco, Altice is reportedly close to a deal that would see it pay USD17.7 billion for the USA based cable TV operator, Cablevision Systems.

Various reports indicated that Altice is offering to finance the deal through debt and a share rights issue to raise funds from its existing shareholders.

The deal is also reported to include up to a third of Cablevision being owned by BC Partners and the Canada Pension Plan Investment Board.

Cablevision operates in the New York area, and had a market valuation of just under USD8 billion, although it also has an unknown amount of debt to explain the much higher fee being offered by Altice.

Altice already owns one US cable TV operator, having paid USD9.1 billion earlier this year for Suddenlink.

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Tags: altice  USA