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ATUS WI - Altice USA Inc News Story

$17.71 0.0  0.1%

Last Trade - 08/06/18

Sector
Telecoms
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £7.02bn
Position in Universe th / 6853

BUZZ-Altice USA jumps on $2.5 bln buyback

Mon 23rd November, 2020 12:43pm
** Altice USA Inc  ATUS.N  up 6.1% at $34.25 premarket as
broadband provider plans to buy back up to $2.5 bln of its stock
    ** Co says will buy shares in modified "Dutch auction"
tender offer, sets price range of $32.25-$36.00  urn:newsml:reuters.com:*:nBw7Wv57ra
    ** If fully subscribed, says number of shares purchased in
offer represents approx 19.6%-21.9% of its Class A shares issued
and outstanding (or approx 12.8%-14.3% of total Class A and
Class B outstanding)
    ** Co intends to pay for shares with cash on hand
    ** Tender offer expires Dec 21
    ** With this offer, ATUS increases its buyback target for
full-yr 2020 from at least $2 bln to ~$5 bln
    ** Altice USA has ~$18 bln market cap, per Refinitiv data
    ** YTD, ATUS's stock is up 18% and has doubled from its Mar
lows

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))
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