Netherlands-based multi-country telecoms group Altice has announced that a programme to repurchase shares with an aggregate market value equivalent to up to EUR1.0 billion (USD1.2 billion) commenced on 28 August and will end no later than 31 August 2018. As part of this programme, Altice intends to purchase up to EUR1.0 billion of Altice ‘A’ common shares and Altice ‘B’ common shares on the Amsterdam Euronext within the next twelve months, which it intends to cancel upon repurchase and/or hold in treasury. The share repurchase programme forms part of Altice’s strategy to create superior, long-term value for its shareholders. Going forward, Altice says that it will continue to assess the use of excess cash for either significantly accretive M&A opportunities or further shareholder returns.
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