Altice expects to make around $1.4 billion from a long-awaited partial IPO of its US business, the company confirmed in a filing to the New York Stock Exchange.
The company started listing proceedings for its US unit in April 2017 after confirming its intention in late 2016. The move follow months of speculation and two years of acquisition-fuelled growth in the country.
According to Bloomberg reports, the company is expected to use the proceeds to fuel further M&A activity.
The company is yet to reveal its timeline for the listing.
Altice USA is the country’s fourth largest cable company after its aggressive acquisition strategy. In 2015 it entered the market with the purchase of Suddenlink for $9.1 billion, which it followed in 2016 with the $17.7 billion purchase of Cablevision.
Earlier this year, it announced it was in the process of purchasing video advertising company Teads to add to its US portfolio.
In addition to its IPO, the company announced in May 2017 it planned to rebrand its acquired business units under the Altice name during 2018 in a bid to strengthen its global brand.
Altice USA is a division of the Netherlands-based group which holds a wide range of assets across Europe, including stakes in communications providers in France, Portugal, Switzerland and a range of French-speaking countries around the world.