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Europe's Altice boosted by plans to spin off U.S. operation

Reuters  |  PARIS/NEW YORK 

By Leigh Thomas and Anjali AthavaleyPARIS/NEW YORK (Reuters) - Telecoms and cable group Altice NV is separating its U.S. and European operations to try to reassure investors alarmed by its high debt and low revenue generation, especially in its core French telecoms business.Altice said it would spin off its U.S. arm to existing investors and prioritise a turnaround of its European operations. Both companies will have new management. Altice's battered shares -- down about 50 percent over the past year -- rose 6.6 percent in Europe on Tuesday, boosted by hopes the breakup could open the ...

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First Published: Tue, January 09 2018. 16:28 IST