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Altice to Acquire Suddenlink Stake in $9.1 Billion U.S. Deal

Bloomberg business news

U.S. Ambitions Leads Altice to Buy 70% of Suddenlink

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Altice SA agreed to acquire control of Suddenlink Communications in a $9.1 billion transaction that marks French-Israeli billionaire Patrick Drahi’s first foray in the U.S. cable market.

Drahi’s investment vehicle is buying a 70 percent stake in Suddenlink, the seventh-largest U.S. cable company, Altice said Wednesday. Altice has also made a takeover approach for larger Time Warner Cable Inc., whose takeover by Comcast Corp. was called off last month, a person with knowledge of the matter said.