Altice USA CEO says listing will facilitate US cable sector deals; no hurry to acquire wireless operator
Altice USA [NYSE:ATUS] Chief Executive Dexter Goei said the newly-listed Oyster Bay, New York-based cable television company went public so as to be prepared to “partner up,” the Financial Times reported. Goei added that Altice USA expects “something occurring” soon, according to the newspaper.
The US cable sector is ready for further mergers and acquisitions deals, Goei said. Altice USA’s market debut on Thursday, 22 June, leaves the company well-placed to participate in deals that could strengthen its position in the US cable sector, the CEO added. The report noted that Altice is the fourth biggest cable operator in the US.
Altice is the US subsidiary of the Dutch company Altice NV [AMS:ATC], which is controlled by Patrick Drahi, the item noted.
The report went on to note that Verizon Communications [NYSE:VZ] has indicated willingness to consider deals with rivals including Comcast [NASDAQ:CMCSA] and Charter Communications [NASDAQ:CHTR], while another rival, AT&T [NYSE:T], has a pending takeover of Time Warner [NYSE:TWX]. T-Mobile USA is considered a potential target for companies looking to build a bigger presence in mobile telecommunications, the item added.
Goei said, however, that Altice USA is not in a hurry to buy a “wireless platform,” adding that while mobile is interesting it is not an urgent need.
Altice USA’s market capitalisation stood at USD 24.11bn (EUR 21.59bn) at the close of trading in New York on Thursday.