Deals
Altice’s Talks for Lightpath Stake Sale Collapse
- Potential deal would have valued business at about $3 billion
- Company reviewing ‘strategic alternatives,’ CEO told analysts
Source: Getty Images
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Altice USA Inc., the cable-television provider that spun off from Patrick Drahi’s Altice NV last year, is no longer in talks to sell a minority stake in its Lightpath fiber unit to Stonepeak Infrastructure Partners, according to people with knowledge of the matter.
Shares of Altice USA reversed earlier gains on Thursday, falling as much as 1.5%. The company had a market value of $17.4 billion in trading at 1:26 p.m. in New York. The shares had been up more than 60% over the past 12 months.