European telecom giant Altice closed on its $9.1 billion purchase of a 70% interest in Suddenlink Communications Monday, making official its entrance into the U.S. cable market.
Altice first announced it would purchase Suddenlink in May. The all-stock purchase received Federal Communications Commission approval Dec. 18.
Former Suddenlink investors BC Partners and CPP Investment Board have retained a 30% interest in the company, now called Altice USA, as planned.
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