French telecom giant, Altice has officially entered the U.S cable market with the completion of the acquisition of 70% of Suddenlink for $9.1 billion following approval from FCC last Friday. The remaining 30% in the seventh largest U.S. cable operator will be retained by its existing shareholder, BC Partners and CPP Investment Board. As part of the deal, chairman and CEO Jerry Kent will officially leave the company that he founded in 2002. He will, however invest in Altice USA and become chairman of a newly formed Advisory Council at Altice USA.
Dexter Goei, Chief Executive Officer of Altice Group, will assume the additional role of Executive Chairman of Altice USA. In addition, Altice also announced the appointments of Charles F. Stewart as co-‐President and Chief Financial Officer of Altice USA, and Hakim Boubazine as co-‐President and Chief Operating Officer of Altice USA. US operations will be coordinated by Michel Combes, Group COO of Altice.
