Altice NV shares climbed 10 per cent Tuesday after the struggling global telecoms and cable group unveiled a wide-ranging organisational shake-up and restructuring to allay concerns that have sent its stock tumbling in recent months.
The gains came in response to the heavily indebted companys announcement late on Monday that it would spin off its US business, restructure its European operations and reappoint senior managers to roles focused on just one region.
The move marked the starkest acknowledgment to date of concerns over the viability of the company, which has been strung…
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