BREAKING NEWS

BREAKING NEWS

Altice shifts focus from acquisitions to easing debt - CFO

Now Reading:

Altice shifts focus from acquisitions to easing debt - CFO

Text size Aa Aa

BARCELONA (Reuters) – Altice <ATCA.AS> is shifting its focus from acquisitions to reducing its 50 billion-euro (£45 billion) net debt, Chief Financial Officer Dennis Okhuijsen said on Wednesday. The Amsterdam-based cable and telecoms holding has lost more than half of its market value since it reported disappointing third-quarter results on Nov. 2, which led to the ouster of its chief executive Michel Combes last week. The group will “go back to the basics” and will not be looking for acquisitions in the near future, Okhuijsen said at a conference hosted by Morgan Stanley in Barcelona.

(Reporting by Mathieu Rosemain; editing by Richard Lough)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.