Altice USA Inc. is exploring the sale of Suddenlink, which provides cable and internet service in the south-central US, according to people familiar with the matter, as the telecommunications company seeks to pay down its massive debt load.
Altice USA is working with Goldman Sachs Group Inc. on the potential sale, which could fetch as much as $20 billion, said some of the people, who asked to not be identified because the matter isn’t public. The unit has about $1.3 billion in earnings before interest, taxes, depreciation and amortization, some of the people said. Altice USA has begun soliciting interest from potential suitors, they said. The company could still decide to keep the division.