Telecoms group Altice announces 1 billion euros share buyback

Reuters

PARIS, Aug 28 (Reuters) - Altice,, the acquisitive telecoms and cable group founded by billionaire Patrick Drahi, announced a 1 billion euros ($1.2 billion) share buyback programme and said it would continue to examine takeover opportunities.

Altice said on Monday that the share buyback formed part of its general strategy to boost shareholder returns and reflected its confidence in meeting its near-term financial targets, with Altice also reiterating its 2017 financial guidance.

"Going forward, Altice will continue to assess the use of excess cash for either significantly accretive M&A (mergers and acquisitions) opportunities or further shareholder returns," the company said in a statement.

($1 = 0.8386 euros)

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