Altice USA drops after ending Suddenlink sales process

Altice USA (NYSE:ATUS) fell 4% in premarket trading after the company said it ended the sale process for its Suddenlink business.
“Over the course of the past several months, the company has been considering options for, including the potential sale of, its Suddenlink business," Altice said in a statement. "Following this evaluation, the Board of Directors has unanimously determined that continuing to operate Suddenlink and pursuing the company’s long-term business plan represents the best path forward for Altice USA and its stockholders.”
The end of Suddenlink sales process comes after Altice (ATUS) confirmed in August that it was considering offers for all or parts of the business.
Bloomberg first reported in July that Altice (ATUS) was exploring the sale of Suddenlink, a sale of the unit could bring up to $20B. Altice shares surged 22% on the report on July 21.