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.
