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BC Partners, Canada Pension Plan-backed funds further cut Altice USA stake

Funds advised by private equity firm BC Partners and the Canada Pension Plan Investment Board opted to sell 20 million class A shares in Altice USA Inc., or about 40% of their holdings in the company.

Altice USA elected to buy back about 1.8 million of these shares for about $50 million. BC Partners and the CPPIB will retain a combined 4.4% stake in the broadband communications and video service provider.

The two investors earlier slashed their stake in Altice USA in June.