European telecom giant Altice gained a foothold in the U.S. telecom market Wednesday, agreeing to acquire a 70% interest in Suddenlink Communications for $9.1 billion.
Altice will purchase the stake from Suddenlink’s owners – private equity firm BC Partners, Canadian pension fund CPPIB and Suddenlink management.
News of the deal was first reported by the Wall Street Journal.
For the full story go to Multichannel.com.
(Photo via Ervins Strauhmanis's Flickr. Image taken on Sept. 19, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)
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