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Altice is spinning off its U.S. business

Cable TV remote controls

Photo: Andrew Regam / Getty Images

Europe's Altice NV said Tuesday that it will spin-off its U.S. unit, which owns both Cablevision and Suddenlink.

Why it matters: Because Altice USA went public last summer, largely to give it a public currency to make acquisitions. But those ambitions have been slowed by its parent company's balance sheet brambles, and today's move could finally clear its path.