AGL 38.52 Increased By ▲ 0.95 (2.53%)
AIRLINK 129.39 Decreased By ▼ -3.11 (-2.35%)
BOP 5.62 Decreased By ▼ -0.02 (-0.35%)
CNERGY 3.87 Increased By ▲ 0.10 (2.65%)
DCL 8.74 Decreased By ▼ -0.13 (-1.47%)
DFML 41.75 Increased By ▲ 0.75 (1.83%)
DGKC 88.50 Decreased By ▼ -1.66 (-1.84%)
FCCL 34.94 Decreased By ▼ -0.14 (-0.4%)
FFBL 66.80 Increased By ▲ 0.30 (0.45%)
FFL 10.60 Increased By ▲ 0.45 (4.43%)
HUBC 108.98 Increased By ▲ 2.58 (2.42%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.76 Decreased By ▼ -0.10 (-2.06%)
KOSM 6.93 Increased By ▲ 0.08 (1.17%)
MLCF 41.59 Decreased By ▼ -0.21 (-0.5%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.49 Increased By ▲ 2.24 (1.24%)
PAEL 26.27 Increased By ▲ 0.57 (2.22%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 147.60 Decreased By ▼ -0.80 (-0.54%)
PRL 23.66 Increased By ▲ 0.44 (1.89%)
PTC 16.60 Increased By ▲ 1.36 (8.92%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.88 Decreased By ▼ -0.12 (-0.33%)
TPLP 7.80 Increased By ▲ 0.40 (5.41%)
TREET 14.13 Decreased By ▼ -0.11 (-0.77%)
TRG 50.40 Decreased By ▼ -0.45 (-0.88%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,809 Increased By 41.1 (0.42%)
BR30 29,711 Increased By 311.1 (1.06%)
KSE100 92,362 Increased By 423.9 (0.46%)
KSE30 28,849 Increased By 105.3 (0.37%)

Media and telecoms group Altice, which has seen its share price tumble in recent weeks, will hold off on further acquisitions and instead focus on cutting debt, executives said Wednesday. The company has emerged as a major telecoms player in Europe and the United States in recent years with a series of debt-financed acquisitions, but disappointing earnings have renewed concerns about its towering debt.
"We'll be focused on de-leveraging European assets," said Altice Group's chief financial officer, Dennis Okhuijsen, at a conference organised by Morgan Stanley in Barcelona. "We'll be very focused on no M and A, going back to the basics, have no expenditure unnecessary for corporate development," he added. Altice will even look at the "potential sale of non-core assets, potential tower sales," added Okhuijsen.
Altice has grown rapidly since it was founded in Luxembourg in 2001, moving into the cable, content production, telecom, media and online video advertising sectors.

Comments

Comments are closed.