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BC Partners, Canada pension plan discussing $1B Cablevision share purchase
2015-10-04 03:47:58| Telecom - Topix.net
As part of Altice's deal to acquire Cablevision , P-E firm BC Partners and the Canada Pension Plan Investment Board are in discussions to acquire more than $1B in Cablevision shares, a move that could help Altice with the finances of the deal. Concerns over the debt necessary to complete the takeover have hounded the bonds of Altice and Cablevision since the deal was announced.
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Altice raises USD 8.6 bln for Cablevision, confirms targets
2015-10-01 10:04:00| Telecompaper Headlines
(Telecompaper) Altice said it has successfully priced USD 8.6 billion of new debt in connection with its acquisition of Cablevision Systems. The new debt was split into a USD 3.8 billion 7-year senior secured Term Loan B, a USD 1.0 billion 10-year worth of senior guaranteed notes and USD 3.8 billion worth of 7-year and 10-year senior unsecured notes. Altice confirmed its guidance for achieving medium term EBITDA margin targets of 45 percent at Numericable-SFR and 50 percent at Altice International. It also remains confident in its previously announced medium term operating expenditures related cost savings and synergies targets of EUR 200 million at Portugal Telecom, USD 215 million at Suddenlink and USD 900 million at Cablevision.
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Altice sells 1.8bn worth of new shares for Cablevision deal
2015-10-01 02:00:00| Total Telecom industry news
French company also prices $8.6 billion in new debt for U.S. acquisition.
Altice buys Cablevision in $17.7bn deal
2015-09-17 09:13:52| BBC News | Business | UK Edition
European telecoms firm Altice agrees to buy US cable TV firm Cablevision in a deal worth $17.7bn (11.4bn).
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Altice agrees to buy Cablevision for USD 17.7 billion
2015-09-17 07:14:00| Telecompaper Headlines
(Telecompaper) European telecom group Altice has reached a definitive agreement to acquire US operator Cablevision Systems for USD 17.7 billion in cash, at a price of USD 39.40 per share. This is Altice's second step in the US market, after its announced acquisition of Suddenlink in May. Cablevision is the leading cabler in the New York metro area (New York, New Jersey, Connecticut) and has 3.1 million residential and business customers out of over 5 million premises passed by its network. The transaction will be financed with USD 14.5 billion of new and existing debt at Cablevision, cash on hand at Cablevision and USD 3.3 billion of cash from Altice. BC Partners and CPP Investment board have an option to participate for up to 30 percent of Cablevision. Altice intends to raise equity by issuing Class A shares and has received full financing commitments from JP Morgan, BNP Paribas and Barclays. The transaction is expected to close in the first half of next year. The shareholders of Cablevision, which is owned by the Dolan family, have approved the transaction, said CEO James Dolan. The family will still own AMC Networks and Madison Square Garden after the Cablevision sale.
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