French telecom billionaire Drahi agrees on $9.1B deal for Suddenlink Communications :
Fresh from roiling the French telecoms market, billionaire Patrick Drahi has turned his sights to the U.S., striking an agreement to buy a 70% stake in America's No. 7 cable company, Suddenlink Communications, in a deal valuing the business at $9.1 billion.
Drahi holding company Altice SA will buy the stake in Suddenlink's parent company, Cequel Communications Holdings LLC, from BC Partners Ltd. and Canada Pension Plan Investment Board, which will each retain a 12% stake in the business.
"Our investment in Suddenlink, our first in the cable sector in the U.S., opens an attractive industrial and strategic avenue for Altice in the U.S.," Altice CEO Dexter Goei said in a state...