Altice USA reportedly looking to sell Suddenlink

Altice USA is looking to sell cable operator Suddenlink, according to a report by Bloomberg.

Acquired only a few years ago at the height of Altice’s expansion drive, Suddenlink is one of the two major cable operators owned by Altice USA alongside Optimum.

Suddenlink operates networks mostly in the southern and central part of the US, while Optimum is active in the New York area.

According to Bloomberg, Altice USA is looking at a potential sale as it seeks to reduce its debt levels.

Citing unnamed sources, Bloomberg said that Altice USA is working with Goldman Sachs and has begun putting feelers out to potential buyers, but could yet decide to keep the division.

According to the report, the sale could bring Altice USA as much as US$20 billion, which could help alleviate its debt. The company bought Suddenlink for US$9.1 billion in 2015.

Altice USA CEO Dexter Goei has previously said that his company is open to exchanging or selling assets and has hinted that Altice USA does not view Suddenlink’s footprint as strategically important.

News of the potential sale comes two years after Altice USA’s failed attempt to acquire Canada’s Cogeco, which included a plan to sell the latter’s Canadian assets to Rogers while keeping hold of its US subsidiary, Atlantic Broadband, which operates networks on the US’s eastern seaboard.