Europe's Altice to spin off U.S. operation, simplify business

By Anjali Athavaley(Reuters) - Telecoms and cable group Altice NV , which is trying to cut debts of around 50 billion euros ($59 billion), said on Monday its board has approved plans to spin-off its U.S.

unit from its European operation.The move is intended to simplify a sprawling communications empire that executives said encompassed two distinct markets, the United States and Europe.Altice's performance in Europe last year led investors to question its strategy, and in November founder Patrick Drahi returned as president while Chief Executive.....

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