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Altice (company)
Altice Group Lux Sàrl (formerly Altice Europe N.V. and commonly known as Altice) is a Luxembourg-based multinational telecommunications and mass media company with official headquarters in Luxembourg, founded and headed by the French-Israeli billionaire businessman Patrick Drahi, and the second largest telecoms company in France, behind Orange.
It had a market capitalization of €13.7 billion in December 2017, and a market cap of less than €6 billion in June 2019, a 56% decline for the stock since Drahi financed the business with debt. In 2016, the company had over 50 million internet, TV, and phone customers in Western Europe, Israel, the United States (where it formerly operated) and the Caribbean. Altice formerly owned a subsidiary in the USA until that company, while retaining the Altice name, was spun off through an IPO in June 2019, making the former USA division independent from the rest of Altice but retaining the same chairman, Patrick Drahi, and the same logo.
Altice bought several regional cable television operators in France from 2002 to 2007, merging them under the brand Numericable.
In 2009, Patrick Drahi increased his stake in Hot, a cable television operator in Israel. Drahi completed the takeover in 2011, and offered to buy the remaining shares in 2012.
In November 2013, Orange announced it was selling Orange Dominicana to Altice for $1.4 billion.
In March 2014, it acquired SFR, France's second-largest mobile phone and Internet services company, from Vivendi.
In November 2014, France's competition watchdog approved a deal for Numericable to acquire Virgin Mobile France for €325 million.
In May 2015, Altice acquired a 70% controlling stake in Suddenlink Communications, which valued the seventh-largest US cable company at US$9.1 billion. The other 30% continues to be owned by BC Partners and CPP Investment Board.
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Altice (company)
Altice Group Lux Sàrl (formerly Altice Europe N.V. and commonly known as Altice) is a Luxembourg-based multinational telecommunications and mass media company with official headquarters in Luxembourg, founded and headed by the French-Israeli billionaire businessman Patrick Drahi, and the second largest telecoms company in France, behind Orange.
It had a market capitalization of €13.7 billion in December 2017, and a market cap of less than €6 billion in June 2019, a 56% decline for the stock since Drahi financed the business with debt. In 2016, the company had over 50 million internet, TV, and phone customers in Western Europe, Israel, the United States (where it formerly operated) and the Caribbean. Altice formerly owned a subsidiary in the USA until that company, while retaining the Altice name, was spun off through an IPO in June 2019, making the former USA division independent from the rest of Altice but retaining the same chairman, Patrick Drahi, and the same logo.
Altice bought several regional cable television operators in France from 2002 to 2007, merging them under the brand Numericable.
In 2009, Patrick Drahi increased his stake in Hot, a cable television operator in Israel. Drahi completed the takeover in 2011, and offered to buy the remaining shares in 2012.
In November 2013, Orange announced it was selling Orange Dominicana to Altice for $1.4 billion.
In March 2014, it acquired SFR, France's second-largest mobile phone and Internet services company, from Vivendi.
In November 2014, France's competition watchdog approved a deal for Numericable to acquire Virgin Mobile France for €325 million.
In May 2015, Altice acquired a 70% controlling stake in Suddenlink Communications, which valued the seventh-largest US cable company at US$9.1 billion. The other 30% continues to be owned by BC Partners and CPP Investment Board.