November 15, 2017 / 1:13 PM / a year ago

Altice shifts focus from acquisitions to easing debt - CFO

BARCELONA, Nov 15 (Reuters) - Altice is shifting its focus from acquisitions to reducing its 50 billion-euro ($59 billion) net debt, Chief Financial Officer Dennis Okhuijsen said on Wednesday.

The Amsterdam-based cable and telecoms holding has lost more than half of its market value since it reported disppointing third-quarter results on Nov. 2, which led to the ouster of its chief executive Michel Combes last week.

The group will “go back to the basics” and will not be looking for acquisitions in the near future, Okhuijsen said at a conference hosted by Morgan Stanley in Barcelona. ($1 = 0.8450 euros) (Reporting by Mathieu Rosemain; editing by Richard Lough)

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