after group spins off us arm
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Altice shares rebound

After group spins off US arm

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today After group spins off US arm

Nothing like a company split to boost the share price.
The Hague - Al Maghrib Today

Shares in troubled French media and telecoms firm Altice soared in early trading Tuesday, after it announced a major group reorganisation spinning off its US arm from its European business.

Altice said in a statement late Monday that it "has approved plans for the separation of Altice USA Inc. from Altice NV", adding the new arm would be renamed "Altice Europe".

"The separation will enable each business to focus more on the distinct opportunities for value creation in their respective markets and ensure greater transparency for investors," the company added.

The news, which came only two months after Altice founder Patrick Drahi retook the company's reins, was welcomed by the markets early Tuesday, as shares soared by 7.45 percent in early trading on Amsterdam's AEX.

Share prices bubbled up to hit 10.15 euros, before beginning to drop back below 7.0 percent, as the AEX itself rose by some 20 percent.

Altice has emerged as a major telecoms player in Europe and the United States in recent years with a series of high-profile acquisitions, but disappointing earnings have renewed concerns about its towering debt.

It has moved to try to shore up confidence after share prices plunged by more than a third in a week in November. And the company said the re-organisation should be completed by the end of the second quarter of 2018.

The two companies will be led by separate management teams, although Drahi will retain control of both.

Altice has grown rapidly since it was founded in Luxembourg in 2001, moving into the cable, content production, telecom, media and online video advertising sectors.

Its acquisitions, which included France's second-largest mobile firm SFR in 2014 cable operators Suddenlink and Cablevision in 2015, made it the fourth-largest US cable operator.

But the purchases were cobbled together through loans, and the firm, which posted 23.6 billion euros in sales 2016, recorded a debt of 51 billion euros at the end of September.

Results posted in November showed a 1.8 percent drop in sales in the third quarter to 5.75 billion euros due to reverses in Altice's main markets in France and the United States, although its operating profit and margin both ticked modestly higher.

 

Source: AFP

 

almaghribtoday
almaghribtoday

GMT 10:41 2018 Friday ,19 January

Taiwan chip 'godfather' bullish on cryptocurrency

GMT 14:50 2018 Thursday ,18 January

YouTube toughens rules regarding

GMT 13:41 2018 Wednesday ,17 January

Remand extended for Palestinian teen

GMT 12:17 2018 Tuesday ,16 January

Russia's Lavrov lashes out at US

GMT 11:44 2018 Sunday ,14 January

Facebook move will play out

GMT 12:33 2018 Saturday ,13 January

New Eurogroup chief vows to press

GMT 09:37 2018 Friday ,12 January

S. Korea govt sends bitcoin
Almaghrib Today, almaghrib today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

after group spins off us arm after group spins off us arm

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

after group spins off us arm after group spins off us arm

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 16:05 2015 Thursday ,26 February

Egypt, South Sudan to launch campaign to fund Waw Dam

GMT 15:01 2017 Monday ,13 November

Switzerland edge out Northern Ireland

GMT 23:12 2015 Monday ,07 September

Moussa participates in annual forum at Salzburg

GMT 04:45 2012 Friday ,12 October

Hezbollah role in Syria grows more evident

GMT 01:42 2014 Sunday ,16 February

Posting links to freely available to legal Web

GMT 08:56 2016 Wednesday ,05 October

Rough times for Saudi retail

GMT 06:59 2017 Wednesday ,01 February

Bayern Munich's Ribery out of action

GMT 19:36 2011 Monday ,25 April

KSE index ends day in green

GMT 00:40 2012 Sunday ,08 July

An Alaska women’s shelter can reopen

GMT 17:43 2012 Thursday ,29 November

Scolari returns as Brazil coach

GMT 08:48 2017 Wednesday ,14 June

Qatar keep FIFA World Cup hopes alive

GMT 11:45 2012 Tuesday ,11 December

Hawa al-Tagtaga remembered

GMT 12:06 2011 Saturday ,11 June

William in first Trooping parade

GMT 15:49 2012 Wednesday ,15 August

Lindsay Lohan in skimpy bikini

GMT 15:15 2016 Wednesday ,24 August

Deal puts Microsoft apps on Lenovo phones

GMT 14:52 2011 Friday ,08 July

Energy cuts will avoid wastage

GMT 12:25 2014 Wednesday ,03 December

The New York hotel that will host the royal couple

GMT 12:24 2012 Sunday ,01 July

Salvatore Ferragamo: Eyewear collection
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday