Altice is looking for private partners to purchase Charter

  • ECO News
  • 14 August 2017

Patrick Drahi is said to be looking for private investors to join his company in the purchase of the North-American Charter. Altice's deal could be worth around 200 billion euros.

Altice’s North-American subsidiary Altice USA wants to expand their business through the purchase of Charter Communications, but it will need to find some partners. According to Bloomberg, the telecommunications company is searching for private investors to join it in the deal, which could be assessed in 200 billion dollars.

The conversations are at an early stage and it is still unclear how much equity is Drahi willing to give away, according to sources close to the process, quoted by the agency. All that is known is that the funds chosen by the company are BC Partners and Canada Pension.

Softbank is also said to have an interest in Charter, a pressure which could make Altice jump ahead and make a new acquisition in the North-American telecommunications’ market. If purchased, it will be the company’s largest acquisition, since Charter is assessed in 120 billion dollars, in comparison to the Altice’s group 36 billion euros.

In Portugal, Altice already owns PT Portugal and it announced, last month, an agreement with the Spanish Prisa to acquire Media Capital, owner of the Portuguese TV channel TVI and other assets in the entertainment business, assessed at 440 million euros.