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Altice to Buy Suddenlink Stake for $9.1B

European telecom giant Altice gained a foothold in the U.S. telecom market Wednesday, agreeing to acquire a 70% interest in Suddenlink Communications for $9.1 billion.

Altice will purchase the stake from Suddenlink’s owners – private equity firm BC Partners, Canadian pension fund CPPIB and Suddenlink management.

News of the deal was first reported by the Wall Street Journal.

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(Photo via Ervins Strauhmanis's FlickrImage taken on Sept. 19, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)