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Altice USA (NYSE: ATUS) today announces it has closed the previously announced sale of 49.99% of its Lightpath fiber enterprise business to Morgan Stanley Infrastructure Partners (MSIP) for an implied enterprise value of $3.2 billion. Altice USA will retain a 50.01% interest in Lightpath and maintain control of the company.
“We are pleased to have closed this transaction and partner with Morgan Stanley Infrastructure Partners to support ongoing and new growth initiatives, improve operational performance and provide strategic and financial flexibility for Lightpath,” said Dexter Goei, Chief Executive Officer, Altice USA. “This partnership enables us to focus on distinct opportunities for value creation and long-term growth for Lightpath while continuing to provide best-in-class products and services to enterprise customers.”
Lightpath is a fiber-based bandwidth technology platform enabling businesses in the greater New York Metropolitan region to innovate