01 Dec Altice USA wraps 49.99% sale of Lightpath unit | Light Reading
NEW YORK – Altice USA today announces it has closed the previously announced sale of 49.99% of its Lightpath fiber enterprise business to Morgan Stanley Infrastructure Partners (MSIP) for an implied enterprise value of $3.2 billion. Altice USA will retain a 50.01% interest in Lightpath and maintain control of the company.
Lightpath is a fiber-based bandwidth technology platform enabling businesses in the greater New York Metropolitan region to innovate on emerging systems-based applications. Delivering advanced broadband, voice, security, and managed services with 100% fiber optic network connectivity, Lightpath powers businesses to meet their customers’ evolving needs. As of September 30, 2020, Lightpath’s extensive and deep fiber network powered 11,700 connected buildings across more than 18,600 route miles, including owned and Altice USA route miles.