European Telecom major, Altice, to buy Cablevision

Q.  European telecom group Altice has become  a major force in the US cable market after agreeing to buy which company:
- Published on 20 Sep 15

a. Cablevision
b. Cablefield
c. Suddenlink
d. None of the above

ANSWER: Cablevision
 
European telecom group Altice looks to become a massive force in the US cable market after agreeing to purchase 4th largest US cable operator Cablevision in a cash and shares deal worth USD 17.7 billion including debt. Altice was by French Israeli billionaire Patrick Drahi who entered the US market in May through the purchase of regional cable group Suddenlink for USD 9.1 billion.
The company will pay $34.90 in cash per share, a 22 per cent premium on 16th September closing price of $28.54. Cablevision currently has 3.1 million customers in the New York, Connecticut and New Jersey area.Together both operators represent the fourth-largest cable operation in the U.S. market.

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