Altice, Suddenlink File Application for Deal

Altice isn't on a shopping spree for other U.S. communications companies, it said Thursday as it and Suddenlink Communications filed a joint application seeking regulatory approval of Altice's proposed takeover of Suddenlink. The application broadly spells out Suddenlink's expected ownership structure and makes a case for FCC approval, as the two said it would give Suddenlink "access to Altice’s operational expertise, scale and resources, thereby allowing [the combined companies] to become even more robust competitors in the marketplace for telecommunications services." Once the deal is concluded, Altice will indirectly own 70 percent of Suddenlink equity, with existing Suddenlink shareholders retaining the other 30 percent, the two said. Suddenlink would be the European telecommunications and cable company's entry into the U.S. market. It "has no existing interest in any United States communications entity, and thus Altice’s investment in ... will serve to bolster domestic voice, video, and broadband competition," the two said.