Multinational telco and cable company Altice is exploring the possibility of floating a minority stake in its US operation, the company confirmed today.
Altice became the fourth largest cable operator in the country in June when it completed a $17.7 billion acquisition of Cablevision, having first entered the US market in December 2015 when it bought out the country’s seventh largest operator Suddenlink for $9.1 billion.
The operator supplies 4.6 million residential and enterprise customers in 20 states with digital cable television, high-speed Internet, voice, Wi-Fi and advertising services.
Following its acquisition-fuelled growth, the company announced in June it would continue to increase the size and scope of its US operation.
On the completion of the Cablevision deal, Chairman and CEO of Altice USA Dexter Goei said: “Altice USA is well positioned to grow as a leading communications and media group with its best infrastructure, most innovative and reliable services, and a committed customer centric approach. Our immediate focus is on integrating our businesses within Altice, fostering their development through innovation and investment, and delivering on our plans to enhance the customer experience.”
Parent company Altice operates in France, Belgium, Luxembourg, Portugal and Switzerland in addition to a range of predominantly French-speaking countries elsewhere in the world.
No details were given about the timing of any potential listing or potential stake values.