Altice USA, the fourth-largest U.S. cable company, is focusing on private equity infrastructure funds as potential buyers early in its Suddenlink sale process, according to people familiar with the matter.
Altice USA Chief Executive Officer Dexter Goei confirmed Wednesday the company has begun a sale process for Suddenlink, a cable provider that offers service to 17 states including Texas, Louisiana and West Virginia. Altice USA acquired Suddenlink for $9.1 billion in 2015. Bloomberg first reported the talks of a sale.
Altice USA’s financial advisers have reached out to more than a dozen private equity funds in hopes of finding a buyer, said the people, who asked not to be named because talks are private. There have been no discussions yet with Charter, the second-largest U.S. cable company and a potential suitor, given its lack of a geographical footprint in many of the places Suddenlink serves, the people said.
A spokesperson for Altice USA declined to comment on potential buyers.
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