Altice S.A.
Thesis
The market misunderstands the potential for cost savings and synergies from migrating DSL subscribers to Altice's cable network, alongside significant operational expense cuts. The consolidation of the European telecom industry presents a strong opportunity for Altice to capitalize on its position as a consolidator, with a favorable regulatory environment and a growing demand for high-speed broadband.
Did it work?
While the thesis presented a strong case for Altice's potential to benefit from cost savings and industry consolidation, the lack of price performance data makes it difficult to assess whether the thesis has played out. Additionally, given that 136 months have passed, it is unclear if the anticipated synergies and operational improvements have materialized. Therefore, the outcome remains uncertain.
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