What is Patrick Drahi playing in the United States?
Failing to find an agreement with Bouygues Telecom in France, which would be valued at more than 8 billion euros by its shareholder, Patrick Drahi has just crossed the Atlantic and continues its development by acquisition financed by significant debt.
Altice has just announced an acquisition of a 70% stake in Suddenlink’s capital. A transaction structured by the payment of 1.2 billion dollars in cash fromAltice, Suddenlink’s debt of 6.7 billion, BC Partners and CPP Investment Board, which retain the 30% of the company, will lend 500 million dollars.
7th Telecom operator in terms of number of subscribers, specializing in cable in the United States, present in some fifteen states (Texas, Arizona, Oklahoma, etc.), Suddenlink recorded in 2014 a turnover of 2.3 billion dollars .
Speed seems to be the order of the day in Patrice Drahi’s development plan.
According to Bloomberg, Time Warner, which is valued at 45 billion dollars, would have received a proposal for a merger with Altice, valued for its part at 34 billion dollars, during the month of April.
An aggressive plan of conquest, or a way to stimulate the appetite of Comcast?
After 16 months of work, Comcast had to abandon the acquisition of Time Warner Cable last month, following opposition from the Department of Justice and the Telecoms Committee. Its development in the United States therefore remains complicated, and the acquisition of Altice could be an excellent opportunity for the American group to take a position in Europe.