Altice International - comment

Litigation has commenced in the US against CSC Holdings and 96 other defendants, with lenders alleging that transactions moved valuable Cablevision assets beyond the reach of existing creditors. JPMorgan and White & Case are also referenced in the complaint. We see no obvious read-across to Altice International, given the separate entities and financing structures, but the case is another reminder that the wider Altice situation remains burdened by litigation, creditor disputes and scrutiny of transactions involving related parties.

Separately, Altice International has announced that HOT has completed the sale of 100% of HOT Mobile to a consortium comprising Delek Israel, Keystone and Leumi Partners for NIS 1.22bn in cash.