Altice does some more corporate tinkering

French telecoms conglomerate Altice has announced a good old reorganization in the light of its dodgy 2017.
The big move involves spinning-off Altice USA, which already has its own US stock market listing. The core company – Altice NV – will relinquish its 67.2% interest in Altice USA by handing it over to its own shareholders as well $1.5 billion in cash from Altice USA. This all seems rather convoluted but the upshot is greater separation in the running of the two corporate silos.