Altice USA (NYSE: ATUS) has made a statement following the sale of a portion of Altice USA shares by funds advised by BC Partners and Canada Pension Plan Investment Board, the company said.
“Funds advised by BC Partners (BCP) and Canada Pension Plan Investment Board (CPPIB) elected to sell 20 million Altice USA Class A shares, representing approximately 40 percent of their stake in the company. Consistent with Altice USA´s share repurchase program, the company elected to purchase approximately 1.8 million of these shares for a total consideration of approximately USD 50 million. Following these transactions, BCP and CPPIB together own approximately 4.4% of Altice USA.”
Altice USA is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, mobile, proprietary content and advertising services to approximately 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands.