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OFFON

ALTICE USA, INC.

(ATUS)
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Altice UK Buys 12.1% of BT Group but Doesn't Plan Takeover

06/10/2021 | 02:35am EDT

By Ian Walker

Altice UK SARL, a company owned by Patrick Drahi, said Thursday that it has bought a 12.1% shareholding in BT Group PLC, but doesn't plan to make an offer for the U.K. telecommunications company.

Altice UK said it holds the board and management team of BT in high regard and is supportive of their strategy.

The company said that BT has a compelling opportunity to deliver on the U.K. government's full-fiber, gigabit-capable broadband network expansion.

Altice UK owns 1.2 billion shares in BT that are valued at 2.20 billion pounds ($3.11 billion), based on BT's closing price of 183.15 pence Wednesday.

BT said that it welcomes all investors who recognize the long-term value of its business and the role it plays in the U.K. "We are making good progress in delivering our strategy and plan," BT added.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

06-10-21 0234ET

Stocks mentioned in the article
ChangeLast1st jan.
ALTICE USA, INC. 0.80% 30.965 Delayed Quote.-18.85%
BT GROUP PLC 0.63% 174.7 Delayed Quote.31.27%
DJ INDUSTRIAL 0.05% 34949.25 Delayed Quote.14.14%
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07/28ALTICE USA : Management's Discussion and Analysis of Financial Condition and Res..
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07/28Altice Usa, Inc. Reports Earnings Results for the Second Quarter Ended June 3..
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07/28Tranche Update on Altice USA, Inc.'s Equity Buyback Plan announced on August ..
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07/28ALTICE USA : REPORTS SECOND QUARTER 2021 RESULTS (Form 8-K)
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More news
Financials (USD)
Sales 2021 10 056 M - -
Net income 2021 961 M - -
Net Debt 2021 25 067 M - -
P/E ratio 2021 15,5x
Yield 2021 -
Capitalization 14 048 M 14 048 M -
EV / Sales 2021 3,89x
EV / Sales 2022 3,77x
Nbr of Employees 8 900
Free-Float 39,9%
Chart ALTICE USA, INC.
Duration : Period :
Altice USA, Inc. Technical Analysis Chart | ATUS | US02156K1034 | MarketScreener
Technical analysis trends ALTICE USA, INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 30,73 $
Average target price 39,89 $
Spread / Average Target 29,8%
EPS Revisions
Managers and Directors
Dexter G. Goei Chief Executive Officer & Director
Michael J. Grau Chief Financial Officer & Executive Vice President
Patrick Drahi Chairman
Philippe Le May Chief Technology Officer
Abdelhakim Boubazine COO & President-Telecommunications
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1st jan.Capi. (M$)
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