PARIS (Reuters) - Altice Europe’s (ATCA.AS) shares jumped higher on Thursday, after the cable and telecoms group lifted its full-year financial targets.
Altice Europe shares were up 17.8% in early session trading.
Late on Wednesday, the company lifted its full-year targets after its French division swung back to growth in the second quarter, signalling that a turnaround was underway in its main market.
The group’s founder and majority-owner Patrick Drahi, on a quest to reassure investors about the company’s capacity to repay a hefty 30.1 billion-euro (£27.4 billion) debt, hailed the performance as proof that his strategic shift from cost-cutting towards gaining clients and selling assets was working.
Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta