Cablevision Owner Altice USA in No Hurry to Acquire New U.S. Cable Groups
"We'll be patient," Altice USA CEO Dexter Goei told investors as his company is rumored to be working on an offer to buy Charter Communications.
Pay TV and telecom giant Altice on Tuesday said it's in no hurry to pull the trigger on any new U.S. cable asset acquisitions.
That includes a rumored offer for Charter Communications, the second-biggest U.S. cable operator, by its Altice USA unit. "We want to be open-minded about M&A.... We'll be patient," Dexter Goei, CEO of Altice USA, told the Goldman Sachs Communacopia Conference during a session that was webcast.
Altice USA, which owns the former Cablevision Systems and a controlling stake in smaller cable firm Suddenlink, is the U.S. arm of European pay TV and telecom giant Altice.
Altice USA recently completed an IPO to give the fourth-largest U.S. cable operator behind Comcast, Charter Communications and Cox Communications a currency in the form of its stock to use to help make additional acquisitions.
But Goei and Altice CEO Michel Combes did not mention Charter Communications directly, or other potential targets, as they told investors they will be cautious as they eye rival cable groups for acquisitions as part of any system consolidation.
"Execution remains our priority," Combes told the Goldman Sachs conference. Goei added any potential U.S. acquisitions would likely be a cable play.