Deals
Funds Said in Talks to Buy Over $1 Billion Cablevision Stake
- Final purchase agreement has yet to be reached, people say
- Deal would give Altice extra cash to fund Cablevision takeover
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Canada Pension Plan Investment Board and private-equity firm BC Partners are in talks to acquire more than $1 billion in Cablevision Systems Corp. shares as part of Altice NV’s takeover of the U.S. cable provider, according to people familiar with the matter.
The amount hasn’t been finalized and a deal could still fall apart, the people said, asking not to be identified because the negotiations are confidential. The two investors have an option to buy as much as 30 percent of Cablevision’s equity as part the $17.7 billion sale of the cable company to Altice, billionaire Patrick Drahi’s investment vehicle.