Growth strategy: Drahi has indicated he would like to participate in consolidation in the US pay-TV market and perhaps enter the wireless business there. — AFP
LOS ANGELES: Altice NV will spin off its US cable-television business, letting billionaire Patrick Drahi maintain control of both companies while he pursues a turnaround plan for the debt-laden European operation.
Altice’s 67% stake in Altice USA Inc would be distributed to shareholders by the end of the second quarter, the companies said in a statement.
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