Showing posts with label Altice. Show all posts
Showing posts with label Altice. Show all posts

Thursday, January 14, 2021

Lightpath appoints Chris Morley as CEO

Lightpath, which serves the greater New York Metropolitan area, has appointed Chris Morley as its new chief executive officer. Morley has more than 20 years of experience in the communications infrastructure and telecommunications industry, most recently serving as senior operating advisor for Stonepeak Infrastructure Partners. Prior to that, Morley spent nearly a decade at Zayo Group, a leading communications infrastructure provider in the US, Canada and western Europe, where he served in various roles of increasing responsibility including most recently as chief operating officer, leading the company’s fiber infrastructure, data center, enterprise networks, and transport service business segments.

Morgan Stanley Infrastructure Partners (MSIP) recently acquired 49.99% of Lightpath from Altice USA, with Altice USA maintaining 50.01% controlling interest in Lightpath.

“Lightpath has a rich and successful history of providing advanced communications services in the greater New York metropolitan area, and I’m excited to partner with Altice USA and MSIP to invest in and grow the business,” said Morley. “Leveraging our shared experiences from Lightpath, Lightower and Zayo, coupled with the extensiveness of the Company’s fiber infrastructure network create a unique and relevant platform to the benefit and enablement of our customers.”


Tuesday, November 26, 2019

Altice to acquire Covage, 4th largest FTTH wholesale operator in France

Altice Europe N.V., acting through its SFR FTTH subsidiary, agreed to acquire Covage for a total cash consideration of €1.0 billion.

Altice is acting in partnership with its consortium of financial investors, led by OMERS Infrastructure and including Allianz Capital Partners and AXA Investment Managers - Real Assets.

Covage is the 4th largest fibre wholesale operator in France with 2.4 million homes to be passed (including 0.8 million homes already built).  This network will be added to SFR FTTH footprint
of more than 5.4 million secured homes to be passed (including 1.7 million homes built). Investors in Covage include Cube Infrastructure Fund and Partners.

SFR FTTH said the acquisition expand its footprint, with more households still yet to be awarded as well as selective opportunities for consolidation.

Patrick Drahi, founder of Altice, said: “I am very pleased that we are further expanding the leading FTTH wholesaler in Europe. We are extremely proud to integrate Covage, a great company, with a portfolio of areas in France complementary to ours. With this transaction we also bring onboard excellent local relationships. We continue to be focused on deleveraging Altice Europe notably thanks to growing revenues and EBITDA which will be supplemented with disposal proceeds. As I have explained previously, we are in advanced discussions with several parties in relation to our Portuguese fibre asset."


Friday, November 30, 2018

Altice France sells 49% stake in SFR FTTH project for EUR 1.8B

Altice France announced an exclusivity agreement with Allianz Capital Partners, AXA Investment Managers, and OMERS Infrastructure for the sale of a minority equity stake of 49.99% in SFR FTTH for a total cash consideration of €1.8 billion based on a €3.6 billion1 equity value.

SFR FTTH is the largest alternative FTTH infrastructure wholesale operator in France. The company anticipates passing 5 million homes over the next few years, including 1 million homes built by year-end. The company will offer wholesale services to all operators at the same terms and conditions including SFR as a customer with no minimum volume commitments.

Altice France will sell technical services to SFR FTTH for the construction, the subscriber connection and the maintenance of its FTTH network.

Patrick Drahi, the founder of Altice, said: “I am very pleased that three of the most renowned infrastructure investors in the world are becoming our partners and committing large resources to build the leading FTTH wholesaler in Europe. "With this transformational transaction and the various tower sales and partnerships announced earlier this year, Altice Europe has been able to crystallize €8 billion of infrastructure value and obtain cash proceeds of €4 billion in total in a few months. Through these transactions, Altice France and Altice Europe will deleverage and will have access to new and cheaper liquidity to invest in its fibre infrastructure."

Monday, July 30, 2018

Altice to sell its towers in the Dominican Republic

Altice Europe will sell off its communications tower business in the Dominican Republic to Phoenix Tower International, a portfolio company of Blackstone, for US$170 million.

The deal covers 1,049 sites currently operated by Altice Dominicana.

In addition, Altice Dominicana will enter into a 20-year master agreement to lease back the facilities.

Altice forms tower infrastructure companies in France and Portugal

Altice Europe will sell off equity stakes in its tower infrastructure business in France an Portugal for EUR 2.5 billion in cash. The idea is to form two tower companies offering passive infrastructure and equipment in France and Portugal. Services will be available to all mobile network operators. Altice France and PT Portugal will enter into 20-year master agreements with these new infrastructure companies.

Altice said the deal will help it to reduce debt. Here is an outline of the plan.

Altice France has entered into an exclusivity agreement with KKR for the sale of 49.99% of the equity in the to be formed tower company (“SFR TowerCo”) that will comprise the 10,198 sites currently operated by SFR. The envisaged transaction values SFR TowerCo at an enterprise value of €3.6 billion, representing a very attractive multiple of 18.0x 2017 pro forma EBITDA of €200 million. In addition, a build-to-suit agreement for 1,200 new sites between SFR and SFR TowerCo is expected to generate approximately €250 million in additional proceeds to SFR within the next 4 years.

PT Portugal has reached an agreement with a Consortium including Morgan Stanley Infrastructure Partners and Horizon Equity Partners for the sale of 75% in the to be formed tower company (“Towers of Portugal” or “ToP”) that will comprise 2,961 sites currently operated by Altice Portugal. The transaction values Towers of Portugal at an enterprise value of €660 million, representing a highly attractive multiple of 18.9x 2017 pro forma EBITDA of €35 million. In addition, a build-to-suit agreement for 400 new sites between MEO and ToP is expected to generate approximately €60 million in additional proceeds to MEO within the next 4 years.  ToP’s portfolio of towers, strategically located throughout Portugal, represents the single largest tower portfolio in the country.

Altice founder Patrick Drahi said: “I am enthusiastic about creating new tower partnerships in France and Portugal. With KKR, Morgan Stanley Infrastructure Partners and Horizon Equity Partners, we have found long-term partners of the highest-quality who share our vision to invest in leading infrastructure and growth opportunities. We will create a leading European tower business, including the #1 in France. Both tower businesses will be uniquely positioned to grow as they provide increasingly important infrastructure services to operators in both markets. Simultaneously, these transactions underline our commitment to delever and proactively manage our balance sheet while highlighting the significant underlying value of Altice Europe’s business."

Thursday, June 21, 2018

Altice forms tower infrastructure companies in France and Portugal

Altice Europe will sell off equity stakes in its tower infrastructure business in France an Portugal for EUR 2.5 billion in cash. The idea is to form two tower companies offering passive infrastructure and equipment in France and Portugal. Services will be available to all mobile network operators. Altice France and PT Portugal will enter into 20-year master agreements with these new infrastructure companies.

Altice said the deal will help it to reduce debt. Here is an outline of the plan.

Altice France has entered into an exclusivity agreement with KKR for the sale of 49.99% of the equity in the to be formed tower company (“SFR TowerCo”) that will comprise the 10,198 sites currently operated by SFR. The envisaged transaction values SFR TowerCo at an enterprise value of €3.6 billion, representing a very attractive multiple of 18.0x 2017 pro forma EBITDA of €200 million. In addition, a build-to-suit agreement for 1,200 new sites between SFR and SFR TowerCo is expected to generate approximately €250 million in additional proceeds to SFR within the next 4 years.

PT Portugal has reached an agreement with a Consortium including Morgan Stanley Infrastructure Partners and Horizon Equity Partners for the sale of 75% in the to be formed tower company (“Towers of Portugal” or “ToP”) that will comprise 2,961 sites currently operated by Altice Portugal. The transaction values Towers of Portugal at an enterprise value of €660 million, representing a highly attractive multiple of 18.9x 2017 pro forma EBITDA of €35 million. In addition, a build-to-suit agreement for 400 new sites between MEO and ToP is expected to generate approximately €60 million in additional proceeds to MEO within the next 4 years.  ToP’s portfolio of towers, strategically located throughout Portugal, represents the single largest tower portfolio in the country.

Altice founder Patrick Drahi said: “I am enthusiastic about creating new tower partnerships in France and Portugal. With KKR, Morgan Stanley Infrastructure Partners and Horizon Equity Partners, we have found long-term partners of the highest-quality who share our vision to invest in leading infrastructure and growth opportunities. We will create a leading European tower business, including the #1 in France. Both tower businesses will be uniquely positioned to grow as they provide increasingly important infrastructure services to operators in both markets. Simultaneously, these transactions underline our commitment to delever and proactively manage our balance sheet while highlighting the significant underlying value of Altice Europe’s business."

Wednesday, March 14, 2018

France's SFR deploys Cisco Network Services Orchestrator

SFR, a subsidiary of the Altice Group, is deploying Cisco Network Services Orchestrator (NSO) to simplify the entire lifecycle management for its services, automating core functions across physical and virtualized networks for both existing and new customers.

Financial terms were not disclosed.

Cisco said its NSO delivers several benefits to operators including the ability to:

  • Transform their networks and services towards programmability, by empowering SFR teams to manage their network services more efficiently
  • Assure quality of service for critical applications, driven with agility, flexibility and simplicity of management at its core
  • Provide faster delivery of revenue-generating services and shorter activation times from months to minutes
  • Automate service lifecycle and reduction of manual configuration steps by up to 90 percent
  • Deliver model-driven automation, to abstract the services from the underlying devices, in a standardized way
  • Instill transparent orchestration spanning multiple domains in the network to include NFV and SDN through use of an open, modern programmable platform
  • Reduce failed service activations and network issues by removing the risk of human error

“Utilizing Cisco’s leading network automation software allows us to bring a common API for our services across different networks in a simplified manner,” said Christophe Delaye, CTIO, SFR. “As a result, enabling SFR to get back to what matters the most – supporting our customers’ network automation requirements and enabling them to deploy new services quickly.”



Ci

Thursday, January 25, 2018

Cable Mergers and Spinoffs - Bigger is Better?

Nearly 15 months have passed since AT&T and Time Warner announced their $109 billion-dollar merger agreement. For most of 2017, the companies were confident that their merger would pass regulatory review by the Department of Justice and by the FCC. As the first big to face scrutiny from the income Trump administration, the presumption was that regulators would take a pro-business, hands-off approach especially since the companies do not compete in the same markets and hence would not be constricting the competitive field.  The predicted completion date was “by the end of 2017.” The deadline has now passed.  The new target is “by mid-2018.” 

What’s the hold-up? In late November, the U.S. Department of Justice filed a legal case to block the proposed AT&T + Time Warner merger, apparently on the grounds that the size of the combined company will but smaller players at a competitive disadvantage. So, the logic is that bigger is better, and, as a corollary, smaller is weaker. For AT&T and Time Warner to get to that mid-2018 merger completion date will now require a legal victory in a U.S. District Court.

The official response from AT&T is this “(the) DOJ lawsuit is a radical and inexplicable departure from decades of antitrust precedent. Vertical mergers like this one are routinely approved because they benefit consumers without removing any competitor from the market. We see no legitimate reason for our merger to be treated differently” -  David R. McAtee II, Senior Executive Vice President and General Counsel, AT&T Inc. 

For network operators – bigger is better, especially with content

Since the time the proposed acquisition was announced in October 2016, AT&T has been arguing that the primary driver for the deal is to bring content and distribution under one roof. The merger will combine Time Warner's library of content and ability to create new premium content with AT&T's extensive customer relationships, world’s largest pay TV subscriber base and scale in TV, mobile and broadband distribution.

As a reminder, Time Warner, which was formed in 1990 through the merger of Time Inc. and Warner Communications, encompasses many premium media properties, including HBO, New Line Cinema, Turner Broadcasting System, The CW Television Network, Warner Bros., CNN, Cartoon Network, Boomerang, Adult Swim, DC Comics, Warner Bros. Animation, Castle Rock Entertainment, Cartoon Network Studios, Esporte Interativo, Hanna-Barbera Productions, Warner Bros. Interactive Entertainment. It also owns 10% of Hulu.

The basic idea driving the merger is for Time Warner to act as the content arm for AT&T, providing mobile and fixed broadband line subscribers with valuable material as part of a packaged service bundle. Consumers presumably would purchase an AT&T service bundle based on the perceived quality and value of the package rather than simply the lowest price for mobile connectivity. This will allow ARPU to rise and ensure a 'stickiness' factor that goes beyond the latest mobile handset deals, currently a leading cause for subscriber churn.

So, until we hear otherwise or until the courts rule that the merger is impermissible, the presumption is that “bigger is better” and that AT&T and Time Warner will continue to pursue their business combination.

A mobile + cable merger in Sweden

Earlier this week, another merger was proposed also on the premise that bigger is better. Tele2 and Com Hem agreed to a merger that will create the second largest mobile telephony and fixed broadband provider in Sweden (after Telia) and the market leader in digital TV. Com Hem’s shareholders will receive as merger consideration SEK 37.02 in cash plus 1.0374x new B shares in Tele2 for each share in Com Hem. This values the deal at about US$3.3 billion.

Com Hem operates a fiber-coax network serving approximately 1.5 million residential customers across Sweden. The company was established in 1983 and has approximately 1,200 employees. Its head office is in Stockholm.

Tele2, which was established in 1993 and is based in the Kista Science City, Stockholm, Sweden, operates an extensive mobile network across Sweden and has interests in The Netherlands, Lithuania, Latvia, Estonia, Kazakhstan, Croatia, and Germany.

The combined company will have a customer base of 3.9 million mobile customers, 0.8 million broadband customers, and 1.1 million digital TV customers in Sweden. Its 4G network will cover the entire country while its broadband network will cover almost 60 percent of Sweden’s households.
In presenting their merger to investors and to the press, Tele2 officials spoke of “evolving customer needs” and the appetite for digital content. As with the AT&T + Time Warner deal, there is an impetus to bring mobile, broadband and TV content under one roof.  

Some Service Providers are downsizing

One network operator moving in the opposite direction. Altice, the French operator led by business tycoon Patrick Drahi, who is known for ownership of his French cable operator Numericable.
Through a series of deals, in 2013 Drahi acquired SFR, France’s second largest mobile phone and internet provider from Vivendi. In late 2014, Altice acquired Virgin Mobile France for €325 million. The following year, Altice acquired Portugal Telecom and sold Cabovisão to Apax France. The hunger to grow bigger continued with a bid to acquire Bouygues Telecom, the third largest telecoms company in France. This merger was rejected by Bouygues Telecom. By then, Drahi had his sights on the U.S. cable market. In May 2015, Altice spent $9.1 billion to acquire a 70% controlling stake in Suddenlink Communications, which valued the seventh-largest U.S. cable company. This was soon followed in September 2015 with a $17.7 billion deal to acquire Cablevision, the dominant cable operator in the New York metropolitan area market. This deal was consummated in June 2016, making the new Altice USA into the #4 cable operator in the U.S. with more than 4.6 million Cablevision and Suddenlink customers across 20 states.

Many of the deals were accomplished with private equity debt. Now, 18 months after the transaction was completed, it appears that Altice has a case of indigestion. Perhaps bigger is not better, or maybe compelling content synergies have not been found across these diverse markets. Is there enough content synergy between France and New York to truly make one Altice brand?

This week, Altice N.V. announced a corporate restructuring centered on the separation of Altice USA from Altice Europe. The separation is to be effected by a spin-off of Altice NV’s 67.2% interest in Altice USA through a distribution in kind to Altice NV shareholders. Following the spinoff, the two companies will be led by separate management teams. Patrick Drahi, who will retain control of both companies, issued the following statement: “The separation will allow both Altice Europe and Altice USA to focus on their respective operations and execute against their strategies, deliver value for shareholders, and realize their full potential. Both operations will have the fundamental Altice Model at their heart through my close personal involvement as well as that of the historic founding team."



Tuesday, January 9, 2018

Altice restructuring spins out U.S. operations

Roughly 18 months after acquiring Cablevision Systems, the leading MSO in the NY metro region in a deal valued at $17.7 billion at the time, Altice N.V. announced a corporate restructuring centered on the separation of Altice USA from Altice Europe.

The separation is to be effected by a spin-off of Altice NV’s 67.2% interest in Altice USA through a distribution in kind to Altice NV shareholders.

Following the spinoff, the two companies will be led by separate management teams.

Patrick Drahi, founder of Altice, will retain control of both companies through Next2 and will serve as President of the Board of Altice Europe and Chairman of the Board of Altice USA.

In addition, Altice Europe will reorganize its structure comprising Altice France (including French Overseas Territories), Altice International and a newly formed Altice Pay TV subsidiary.

“The separation will allow both Altice Europe and Altice USA to focus on their respective operations and execute against their strategies, deliver value for shareholders, and realize their full potential. Both operations will have the fundamental Altice Model at their heart through my close personal involvement as well as that of the historic founding team," stated Patrick Drahi.

Sunday, November 5, 2017

Sprint lands MVNO deal with Altice USA

One day after terminating merger talks with T-Mobile, Sprint announced a mobile virtual network operator (MVNO) agreement with Altice USA, which has more than 4.9 million residential and business customers and an especially strong presence in the New York metro area.

Under the new multi-year strategic agreement Altice USA will utilize Sprint’s network to provide mobile voice and data services to its customers throughout the nation, and Sprint will leverage the Altice USA broadband platform to accelerate the densification of its network.

Sprint said it will provide Altice USA with access to its full MVNO model, allowing Altice USA to connect its network to the Sprint Nationwide network and have control over the Altice USA mobile features, functionality, and customer experience. In exchange, Altice USA will leverage its network to support Sprint’s network densification efforts and establish a differentiated network operating model going forward.   

“We are incredibly excited to work with Altice USA on this innovative win-win solution that benefits both of our companies,” said Sprint President & CEO Marcelo Claure. “As content and connectivity continue to converge, we believe this approach will be a model for future strategic arrangements across multiple industries including cable, tech and others.”

“Sprint is an ideal strategic partner for Altice USA given our shared vision around converged customer experiences,” said Altice USA Chairman & CEO Dexter Goei. “Altice is a convergent leader with more than 26 million mobile customers in countries including France, Portugal, Israel, and the Dominican Republic, and we are excited to bring our global expertise to the U.S. to enhance and strengthen our offerings. Working together we will be able to capitalize on Sprint’s vast mobile network, which fits well alongside Altice USA’s deep WiFi network, and leverage Altice’s global mobile experience to deliver greater value, more benefits and seamless connectivity for our U.S. customers.”

Monday, September 11, 2017

Altice USA intros cloud-based Business Hosted Voice

Altice USA is activating a proprietary Altice Advanced Business Communications (ABC) Hosted Voice Platform to power a new cloud based Altice Business Hosted Voice (BHV) product for small and medium-sized business in the U.S.

Altice Business serves more than 375,000 businesses across 21 states, with a network that includes over 14,000 fiber-lit locations, more than 8,000 of which are located in the New York metro area.

The ABC Hosted Voice platform was developed by Altice Labs, Altice’s innovation and R&D center, and today it supports more than two million end users globally, providing premium reliability, and geographical and platform redundancy via multiple U.S.-based hosting locations. Traffic is carried over Altice’s secure private network. This service is now being extended for small and medium sized businesses.

“Our rollout of Altice Business Hosted Voice marks the U.S. introduction of Altice’s proprietary hosted voice platform, which underscores our commitment to introducing robust offerings for our U.S. customers,” said Hakim Boubazine, Co-President and Chief Operating Officer, Altice USA. “By providing this critical communications service on our dedicated platform, we are best positioned to stay on the forefront of the fast-evolving needs of our customers, debuting new features as business demands change, and giving businesses freedom in how they communicate with clients and customers.”

http://alticeusa.com/we-are-altice-business

Thursday, September 7, 2017

Altice USA awards multiyear deal to Amdocs

Altice USA awarded a multi-year agreement to Amdocs for key business and operational support systems. The arrangement will help accelerate the migration to a single Altice USA platform, simplify and modernize technology operations and provide a better experience to Altice USA customers. Financial terms were not disclosed.

Altice USA is one of the largest broadband communications and video service operators in the U.S. and the provider of Optimum and Suddenlink-branded internet, TV and phone services. The service provider is working to integrate its Cablevision and Suddenlink legacy business and operating systems and platforms. Amdocs will offer a hybrid solution combining architecture developed by Altice Labs as well as systems from Amdocs, enabling a simpler, more agile and efficient customer-centric system. The companies said the solution enables Altice USA to quickly and flexibly design and launch new innovative offerings and bundles, accelerate order orchestration and fulfillment over its existing fiber infrastructure and next generation fiber network, enable superior omni-channel customer service experience, and future-proof its systems to prepare for next-generation products and services.

"As we focus on the future needs of our customers, having a simple, flexible and efficient support system is a vital part of our strategy. By combining the technological strengths of Altice with the capabilities of Amdocs, we are creating a unique infrastructure that will enhance and unify the customer experience we offer in the U.S. as we launch new, innovative products and services for our customers. Amdocs is a valued, long-standing partner for Altice USA and we look forward to working together to create the backbone that will enable best-in-class connectivity solutions for years to come," said Hakim Boubazine, Co-President and Chief Operating Officer, Altice USA.

"Altice USA is a major powerhouse, delivering broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content and advertising services to residential and business customers. They are innovative and agile and focused on delivering on the promise of full convergence in this hyper-competitive market. We are delighted to partner with Altice in the U.S. on this industry-leading solution," said Eric Updyke, group president, Amdocs Services.

http://www.amdocs.com

Wednesday, July 26, 2017

Altice USA launches Suddenlink gigabit in 4 new markets

Altice USA announced the launch of Suddenlink Internet service offering up to 1 Gbit/s download speed in four new Gig Cities, namely Batesville and El
Dorado in Arkansas, Maryville, Missouri and Conroe in Texas, and has also increased the speeds of certain other Suddenlink residential Internet services for existing customers in these regions.

Altice noted that local businesses in the four markets will also have access to the new gigabit service, as well as additional Suddenlink customised services for business that provide multi-gigabit bandwidth.

In addition to the new 1 Gbit/s internet service, residential Internet customers with current download speeds of up to 75 and 100 Mbit/s have been automatically moved to services offering download speeds of up to 100 and 200 Mbit/s, respectively. The standard Suddenlink residential Internet download speeds in each region are now as follows: up to 50, 100, 200 and 400 Mbit/s, plus the new up to 1 Gbit/s service.
* In February, Altice USA announced that it was offering its Suddenlink gigabit Internet service in the Kinston area of North Carolina, including the City of Kinston, Lenoir and Wayne Counties, as well as Lagrange and Walnut Creek. At the same time it also increased speeds for certain existing Suddenlink residential Internet customers.

* Altice USA, describing itself as the fourth largest U.S. cable operator, is a major broadband communications and video services providers, delivering broadband, pay TV, telephony services, WiFi hotspot access, content and advertising services to approximately 4.9 million residential and business customers across 21 states via the Optimum and Suddenlink brands.\

Wednesday, May 24, 2017

Altice to rollout single brand worldwide by mid-'18

Altice NV has unveiled a new unified global strategy, marking the next step in the group's strategy to strengthen its industrial and operational platform and building on its transformation into a trans-Atlantic telecoms, content and advertising company serving more than 50 million customers around the world after the acquisitions of Cablevision and Suddenlink in the U.S. last year.

As part of this transformation, Altice is announcing its new global and multi-local branding strategy, unifying its assets and brands worldwide. The move is intended to unite and strengthen Altice's businesses, which will share a common telecoms-content-advertising strategy and execution model.

The Altice name, brand and new logo will replace the current brands at each of Altice's operating companies globally, and it is expected that all commercial brands will have transitioned by the end of the second quarter of 2018.

Under the initiative, Altice's B2B brands will transition to Altice Business, while telecoms sub-brands in select areas will not change, specifically: Red in France; Moche, Uzo and Sapo in Portugal; Next TV in Israel; the media news brands; press brands of SFR Presse and Teads.

Founded in 2001 by Patrick Drahi, Altice is a convergent telecom, content, media, entertainment and advertising company. The company has a presence in 10 territories including France, Portugal, Israel, the U.S., and the Dominican Republic.


Altice USA, a top-four U.S. cable operator, is a major broadband communications and video services providers, delivering broadband, pay TV, telephony services, WiFi hotspot access, content and advertising services to approximately 4.9 million residential and business customers across 21 states, currently via the Optimum, Lightpath and Suddenlink brands.



  • In April 2017, Altice   announced that Altice USA had filed a registration statement with the U.S. SEC for a proposed initial public offering of shares of Class A common stock.

Tuesday, June 21, 2016

Altice Complete Cablevision Deal, Now No.4 Cable Operator in U.S.

Altice completed its previously announced acquisition of Cablevision Systems, the leading MSO in the NY metro region.

Cablevision together with Suddenlink will form Altice USA, the #4 cable operator in the U.S., which serves more than 4.6 million Optimum and Suddenlink customers across 20 states. The deal was valued at $17.7 billion. BC Partners and CPP Investment Board hold a 30 percent stake, as previously announced.

Altice outlined a number of plans, including to:

  • Significantly increase broadband speeds through extensive investments in network upgrades and improvements;
  • Introduce a low-income broadband offering;
  • Introduce a state-of-the art and fully evolutive, all-in-one home center that integrates the functionality of set top boxes, routers and Wifi modems in one device and provides a more user-friendly experience;
  • Introduce a next-generation customer interface offering a modern, informative and seamless navigation, integrating video on demand, online content, and advanced navigation and recommendation tools to maximize the consumer’s experience;
  • Invest more into and support the WiFi network, which will further extend the reach of broadband offerings;
  • Upgrade existing and invest into new IT systems to optimize processes and better serve customers; and
  • Inspire the next generation of technology leaders through programs that encourage the pursuit of STEM-related career paths.

Patrick Drahi, Founder and Controlling Shareholder of Altice: “The completion of the Cablevision acquisition marks a critical step in the development of the Altice Group. Altice USA is a key pillar of our business and a powerful and dynamic growth platform. We are very excited about our U.S. business and the opportunities we see in this market. We will accelerate network investments and bring innovative products and services to U.S. customers by leveraging our global operational expertise, scale and resources. I wish to also thank the Dolan family for entrusting us with their life’s work at Cablevision, where they have developed under their pioneering stewardship one of America’s pre-eminent cable operations with best-in-class management talent.”

http://www.altice.net

Altice to Enter U.S. Cable Market with Acquisition of Cablevision & Suddenlink

Altice, the second largest communications company in France, confirmed plans to acquire Cablevision, the fifth largest cable operator in the United States. Under the agreement, Altice will pay $34.90 in cash for each Cablevision share, for an enterprise value of approximately $17.7 billion. The transaction is to be financed with $14.5 billion of new and existing debt. Altice has received full financing commitments from JP Morgan, BNP Paribas and Barclays.



Cablevision serves the New York City metropolitan area, passing more than 5 million premises and serving more than 3.1 million residential and business customers.  With approximately 65% of its cable customers subscribing to triple-play services, Cablevision generates industry-leading ARPU and benefits from high customer loyalty. The deal also includes Lightpath, the company’s business services unit, as well as local news operations.

Earlier this year, Altice announced plans to acquire Suddenlink for $9 billion, a cable operator based in St. Louis with 1.4 million subscribers in 17 states. The combination of Cablevision + Suddenlink will make Altice the fourth largest cable operator in the U.S. with 4.6 million customers in 20 states.

“As a family business we are proud to be entrusted by the Dolan family with the ownership of Cablevision and look forward to continuing the pioneering path they have paved for us. The strategy of Altice in the large and highly strategic US market is reinforced with the acquisition of Cablevision. We will be in a stronger position, as in all other markets in which we operate, to deliver the best services, invest in the most advanced technology, and develop innovative products for the benefit of our customers,” stated Patrick Drahi, Founder and President of Altice.


http://www.altice.net/


  • Cablevision was founded in the 1960s by Charles Dolan.
  • In 2014, Altice acquire SFR from Vivendi, combining it with Numericable, which has over 5.2 million fiber homes in France, with more than 10 million homes passed. SFR has 3G/4G mobile networks in France as well as 1.6 million fiber homes.
  • In June 2015, Altice acquired Portugal Telecom.

Thursday, September 17, 2015

Altice to Enter U.S. Cable Market with Acquisition of Cablevision & Suddenlink

Altice, the second largest communications company in France, confirmed plans to acquire Cablevision, the fifth largest cable operator in the United States. Under the agreement, Altice will pay $34.90 in cash for each Cablevision share, for an enterprise value of approximately $17.7 billion. The transaction is to be financed with $14.5 billion of new and existing debt. Altice has received full financing commitments from JP Morgan, BNP Paribas and Barclays.



Cablevision serves the New York City metropolitan area, passing more than 5 million premises and serving more than 3.1 million residential and business customers.  With approximately 65% of its cable customers subscribing to triple-play services, Cablevision generates industry-leading ARPU and benefits from high customer loyalty. The deal also includes Lightpath, the company’s business services unit, as well as local news operations.

Earlier this year, Altice announced plans to acquire Suddenlink for $9 billion, a cable operator based in St. Louis with 1.4 million subscribers in 17 states. The combination of Cablevision + Suddenlink will make Altice the fourth largest cable operator in the U.S. with 4.6 million customers in 20 states.

“As a family business we are proud to be entrusted by the Dolan family with the ownership of Cablevision and look forward to continuing the pioneering path they have paved for us. The strategy of Altice in the large and highly strategic US market is reinforced with the acquisition of Cablevision. We will be in a stronger position, as in all other markets in which we operate, to deliver the best services, invest in the most advanced technology, and develop innovative products for the benefit of our customers,” stated Patrick Drahi, Founder and President of Altice.


http://www.altice.net/


  • Cablevision was founded in the 1960s by Charles Dolan.
  • In 2014, Altice acquire SFR from Vivendi, combining it with Numericable, which has over 5.2 million fiber homes in France, with more than 10 million homes passed. SFR has 3G/4G mobile networks in France as well as 1.6 million fiber homes.
  • In June 2015, Altice acquired Portugal Telecom.


Monday, December 1, 2014

Altice Bids EUR 7.4 Billion for Portugal Telecom

Altice confirmed an offer to acquire Portugal Telecom from Oi for EUR 7.4 billion n on a cash and debt-free free basis which includes EUR 500 million consideration related to the future revenue generation of Portugal Telecom. The transaction, net of financial debt, accrued post-retirement liabilities and other purchase price adjustments will be financed by new debt and existing cash from Altice. The deal includes the existing business of Portugal Telecom outside of Africa and excludes Portugal Telecom's Rio Forte debt securities, Oi treasury shares and Portugal Telecom financing vehicles.

Altice is a multinational cable and telecommunications company with presence in three regions-Western Europe (comprising France, Belgium, Luxembourg, Portugal and Switzerland), Israel and the Overseas Territories (currently comprising the French Caribbean and the Indian Ocean regions and the Dominican Republic).

http://www.altice.net/


  • Last week, Altice completed the financial transaction that combined SFR and Numericable.  Vivendi received EUR 13.366 billion in cash of which EUR 200 million will be contributed to the financing of the acquisition of Virgin Mobile by Numericable Group. The amount of  EUR 13.166 billion will be subject to an accounting analysis to confirm the estimated amount of net indebtedness, in accordance with the contract. Vivendi will keep a 20% stake in the new combined entity, which it will be free to sell after a one-year lock-up period, subject to Altice's pre-emption right. 

  • Numericable currently has over 5.2 million fiber homes in France, with more than 10 million homes passed.  SFR has 3G/4G mobile networks in France as well as 1.6 million fiber homes.

  • Patrick Drahi, founder and Chairman of the Altice group, parent company to Numericable, said: "By bringing together SFR and Numericable we will create the French champion in very high speed broadband and in the convergence of fixed and mobile networks. This is a trend throughout the sector, borne out across Europe and around the world. Our project, which is founded upon perfectly complementary networks and skillsets, will generate strong growth, which in turn will create jobs and stimulate investment."