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European Telecom's $10B Deal To Buy Cablevision Now Under Scrutiny

Altice and CEO Patrick Drahi are facing scrutiny over the proposed $10 billion takeover of Cablevision Systems.
Altice and CEO Patrick Drahi are facing scrutiny over the proposed $10 billion takeover of Cablevision Systems. Photo Credit: Wikipedia

European telecom company Altice's proposed $10 billion deal to buy Cablevsion Systems is under heavy scrutiny, according to the Wall Street Journal.

Since the transaction was announced in September , Cablevision's stock has trended nine percent below the agreed-upon takeover price.

Analysts and New York City government officials are mostly concerned that the combined company may not have enough manpower to deal with the expected spike in customer service needs, reported the Wall Street Journal.

The Public Service Commission plans to have its review of the takeover completed by late April.

Altice CEO Patrick Drahi told investors that he intends to pay as little as possible for some programming, and analysts predict that could also lead to salary cuts and layoffs. For more on that, check this previous Daily Voice report.

Click here to read the Wall Street Journal article.

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