06:00 PM EST, 11/25/2025 (MT Newswires) -- Optimum Communications ( OPTU ) said Tuesday it has sued a group of financial institutions for allegedly blocking the telecommunication company's access to the US credit market.

Optimum, previously known as Altice USA, claimed that eight lenders, including Apollo Global Management ( APO ) and Ares Management ( ARES ) , coordinated an "illegal cartel" in 2024 to stop the company from repurchasing its debt at market prices, the Wall Street Journal reported Tuesday, citing a lawsuit filed in the US District Court in New York.

Optimum said it filed the antitrust lawsuit against the institutions for "conspiring to obstruct our efforts to manage our debt. The company didn't identify the defendants.

Apollo and Ares did not immediately respond to requests for comment from MT Newswires.

Apollo shares fell 5% in after-hours trading, and Ares dropped 0.8%.