January 9, 2018 / 4:52 PM / a year ago

Altice's new structure is not meant to facilitate a market consolidation in France: CEO

Dexter Goei, CEO of cable and mobile telecoms company Altice, attends a news conference in Saint-Denis, near Paris, France, November 9, 2015. REUTERS/Benoit Tessier/Files

PARIS (Reuters) - The separation of Altice’s U.S. and European operations is not meant to facilitate a market consolidation in France, Altice Chief Executive Officer Dexter Goei said on Tuesday.

The Netherlands-based telecoms and cable group plans to regroup its French unit SFR under a new entity named Altice Europe, it said earlier on Tuesday.

Several analysts said Altice’s European arm as a whole could eventually become an acquisition target for rival French telecoms companies.

“There’s clearly no thought process around trying to position it for any type of strategic transaction,” Goei said during a call with reporters.

“We’re very focused on the operating story, specifically in France and Portugal,” he added.

“Over the medium and longer term, I’m certain this question will be asked again and maybe we’ll have a different response.”

Reporting by Mathieu Rosemain and Gwenaelle Barzic Editing by dominique Vidalon

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