Altice USA (NYSE:ATUS) today makes the following statement following the
sale of a portion of Altice USA shares by funds advised by BC Partners
and Canada Pension Plan Investment Board:
After the market closed yesterday, funds advised by BC Partners (BCP)
and Canada Pension Plan Investment Board (CPPIB) elected to sell 25
million Altice USA Class A shares, representing approximately one third
of their stake in the company. Consistent with Altice USA’s share
repurchase program and guidance for repurchases during 2019, the company
elected to purchase approximately 6 million of these shares for a total
consideration of approximately $150 million. Following these
transactions, BCP and CPPIB together own approximately 7.4% of Altice
USA.
About Altice USA
Altice USA (NYSE: ATUS) is one of the largest broadband communications
and video services providers in the United States, delivering 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.
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