The FCC has approved the proposed $9 billion purchase of Suddenlink by Luxembourg-based Altice (Euronext:ATC). The deal was first announced in May. The FCC's review included input from the U.S. Departments of Justice (including the FBI), Defense, and Homeland Security.
The FCC's statement read, in part, "Based on our analysis, we find that the likely public interest benefits outweigh any potential public interest harms. Accordingly, we conclude that the transaction, on balance, serves the public interest, and we consent to the proposed assignments and transfers subject to compliance by Altice and Cequel with the terms of the National Security Agreement." (Editor's note: Suddenlink is Cequel's dba name.)
Altice is also in the process of buying Cablevision (NYSE:CVC) for approximately $17.7 billion. That deal was announced in September and is expected to close in the first half of 2016.
Altice has a presence in France, Israel, Belgium and Luxembourg, Portugal, French West Indies/Indian Ocean Area and Dominican Republic, and Switzerland. Its other brands include Cabovisão, Numericable BeLux, Green.ch, HOT, MCS TV, Numericable-SFR, Oni, Orange Dominicana, SFR Caraïbe and Tricom.