Altice Announces It Will Spin-Off Altice U.S.; No FVE Change Currently, but Expect Reduction on Spin
Altice announced on Jan. 8 that it would spin out the shares of Altice U.S. it owns to its shareholders and rename Altice NV as Altice Europe. The company expects the deal will occur in the second quarter after it has received shareholder and regulatory approval. As existing Altice shareholders will receive stock in both companies, there is no change to our EUR 13 per share fair value estimate for now, but we expect there will be a reduction when the spin-off occurs. Whatever Altice NV falls by ...Altice Europe is a provider of cable, fiber, mobile, telecommunications, content and media in Western Europe (comprising France, Portugal, Belgium, Luxembourg1 and Switzerland), the United States of America (U.S.), Israel, the Dominican Republic and the French overseas territories (comprising Guadeloupe, Martinique, French Guiana, La Reunion and Mayotte). Through its various business operations, Co. provides fixed services, mobile telephony services (other than in the U.S.) and media and advertising services to B2C and B2B customers in all of the geographies in which it operates. In addition, Co. offers a variety of wholesale and other services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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