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Altice pauses acquisition spree
2015-09-25 08:30:00| Telecompaper Headlines
(Telecompaper) Altice CEO Dexter Goei said the company will take a break from its acquisition spree, following the agreement to buy Cablevision. "We owe it to our investors, both on the debt and equity side, to pause on the pace of the acquisitions, particularly on the sizable ones," Goei said in an interview with Bloomberg. The pause could be a few months to a couple of years. "Six to nine months is nothing. We may pause for two years because we still have a huge amount of organic growth internally," Goei said. "The only thing that would make us scratch our heads is if Cox came up and said 'I'm going to auction my business.'" Cox Communications spokesman Todd Smith said the company was not for sale, "though we are open to anything that would help us grow." By taking a breather on more acquisitions, Altice has a chance of managing the current costs and building up its cash supply to help pay down debt next year, Goei said, noting "we can see ourselves deleveraging very aggressively in 2016".
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Category:Telecommunications