Telecoms group Altice not selling shares to tackle debts

Paris

ALTICE has no plans to raise cash by selling shares, the telecoms and cable group said on Monday, adding that it had no problems with any loans and would cut its debts of US$58 billion through asset sales.

Altice's shares bounced to regain some ground on Monday following the statement, after having fallen 12 per cent on Friday. The stock was up 12.4 per cent at 9.1O euros (S$14.53) by 0945 GMT, although it remains down by nearly 60 per cent since the start of 2017.