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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 £7.06bn
Position in Universe th / 6849

BUZZ-Altice USA steady as Canada Pension Plan severs the cord

Wed 6th May, 2020 1:46pm
** Cable TV provider Altice USA Inc  ATUS.N  edges lower to
$23.50 premarket as Canada Pension Plan Investment Board divests
its holdings
    ** Altice says CPP Investments elected to sell 11.2 mln
shares, representing substantially all of remaining stake in co,
to a broker dealer  urn:newsml:reuters.com:*:nBw78GWrVa
    ** Consistent with its share repurchase program, Altice to
buy ~2.2 mln shares, ~$52 mln worth, directly from broker dealer
    ** Sources say Morgan Stanley re-offering the balance, ~9
mln shares, in range of $23.10-$23.40 vs stock's last sale of
$23.53
    ** ATUS has 593.5 mln shares outstanding equating to market
value of ~$14 bln, per Refinitiv data
    ** Stock, off 14% in 2020, hit low of $15.955 on Mar 17
    ** 25 of 32 analysts rate ATUS "buy" or stronger, rest are
neutral; median PT of $33 is ~40% above current levels

 (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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