Optimum Communications (ATUS) has filed an antitrust lawsuit against a group of investors, including Apollo Global (APO) and Ares Management (ARES), accusing them of working together to shut the telecommunications company out of the U.S. credit market, Alexander Gladstone and Becky Yerak of The Wall Street Journal reported. In the complaint, filed in federal court in New York, Optimum claims that eight of its lenders formed an “illegal cartel” in 2024 that blocked the company from buying back its own debt at market prices.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APO:
- Balancing Growth Potential and Uncertainties: A Hold Rating for Apollo Global Management
- Apollo Global Management: Strong Growth Potential Driven by Retirement Services and Market Dynamics
- Apollo Global price target raised to $159 from $158 at Barclays
- Apollo Global Management Clarifies 8-K Filing Status
- Apollo Global management to meet virtually with Piper Sandler