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Drahi hits Altice reset button to court wary investors

Reuters  |  PARIS/NEW YORK 

By Mathieu Rosemain and Anjali AthavaleyPARIS/NEW YORK (Reuters) - Altice founder Patrick Drahi is reshaping his telecoms and cable group for the second time in as many months by splitting its U.S. and European operations, hoping to end a drastic downward share-price spiral.Heavily indebted Altice said it would spin off its U.S. arm, which owns the country's fourth-biggest cable operator, to existing investors, and would prioritise efforts to turn around its European operations including French telecoms operator SFR.Altice USA will pay a parting dividend of $1.5 billion to the European arm, ...

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First Published: Tue, January 09 2018. 23:17 IST