Altice NV (ATCA.AS)
PARIS/NEW YORK Altice founder Patrick Drahi is reshaping his telecoms and cable group for the second time in as many months by splitting its U.S. and European operations, hoping to end a drastic downward share-price spiral. | Video
Telecoms and cable group Altice NV is separating its U.S. and European operations to try to reassure investors alarmed by its high debt and low revenue generation, especially in its core French telecoms business.
* Global earnings revisions at all-time high - Citi (Recasts, adds details, closing prices)
* Shares had slumped last year on concerns (Adds Altice CEO comments, bond reaction, closing share price)
Jan 9 Netherlands-listed telecom group Altice’s leveraged loans rebounded strongly in Europe’s secondary loan market on Tuesday, on the back of the firm’s announced reorganisation on Monday that will see the US business spun off to existing shareholders.
LONDON, Jan 9 European shares gained further ground on Tuesday, rising to new 2 1/2 year highs as consumer sectors got a boost from strong retailer results, and indebted telecoms group Altice surged on plans to spin off its U.S. business.
PARIS Shares in telecoms and cable group Altice rose on Tuesday after Altice said its board had approved plans to spin-off its U.S. unit from its European operation.
* ALTICE SAYS FRENCH DIVISION'S REVENUE DECLINED BY ABOUT 2 PERCENT IN 2017
PARIS, Jan 9 Shares in telecoms and cable group Altice rose on Tuesday after Altice said its board had approved plans to spin-off its U.S. unit from its European operation.
BRIEF-Altice CEO Says New Reorganization Will Improve Transparency, Simplify Management Structure - Conf Call
* CEO SAYS ACQUISITION STRATEGY FOR ALTICE USA “CLEARLY NOT A FOCUS TODAY” - CONF CALL