Altice USA extends rally following report of Niel interest in Altice Portugal

Billionaire Xavier Niel has expressed interest in buying the Portuguese operations of Altice, a separate entity from Altice USA (ATUS) that is also backed by Patrick Drahi, Swetha Gopinath, Vinicy Chan, and Alexandre Rajbhandari of Bloomberg reported yesterday, citing people with knowledge of the matter. Niel joinied a Saudi phone company and private equity firms in the contest, Bloomberg points out. Drahi will winnow the bidders to a short list early in 2024, a source told the news agency. Shares of Altice USA are up 18% to $3.61 in premarket trading after rallying 12% in yesterday’s trading.