Altice sets ball rolling on partial US IPO - Mobile World Live

Altice sets ball rolling on partial US IPO

11 APR 2017

International telecoms and cable company Altice began the process for a proposed partial IPO of its US business, following 18 months of acquisition-fuelled growth in the country.

Altice USA is a division of the Netherlands-based operator group, which supplies communications services across France, Portugal, Switzerland and a range of French-speaking countries around the world.

Its US division became the country’s fourth largest cable operator during June 2016, following a $17.7 billion acquisition of Cablevision. Altice first entered the market in late 2015 with the purchase of cable firm Suddenlink for $9.1 billion.

In March, the company announced plans to acquire online video advertising platform Teads, subject to regulatory approvals.

While seeking to expand its US presence, the company conducted a review of its priorities for its broader business. The process included increasing its stake in French operator SFR and consolidating other global operations.

As part of this drive, in December 2016 Altice announced the proposed sale of its Belgium and Luxembourg units to Telenet Group for $400 million.

The company confirmed it was investigating a partial IPO of its US business in late 2016, a statement repeated in its annual report.

Today’s filing with the US Securities and Exchange Commission sets the ball rolling on the process. No details on the proposed value or size of the stake offered were revealed.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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