French businessman Patrick Drahi’s Altice is looking to increase its stake in cableco Numericable to 30% through a planned listing.
According to a statement cited by Reuters, Altice is aiming to become the company’s largest shareholder by acquiring…
French businessman Patrick Drahi’s Altice is looking to increase its stake in cableco Numericable to 30% through a planned listing.
According to a statement cited by Reuters, Altice is aiming to become the company’s largest shareholder by acquiring an additional 6% from private equity firms Carlyle and Cinven. They currently each own 37.5% of the operator.
Altice was not immediately available for comment.
Yesterday, Numericable reportedly started marketing its planned IPO, which is expected to raise up to €2bn (US$2.7bn).
CEO Eric Denoyer had previously said the cableco plans to list 20% to 40% of its share capital. The offering, led by Deutsche Bank and JP Morgan, could reportedly value Numericable at up to €5bn (US$6.8bn).
The company operates in France, Belgium and Luxembourg. The listing is expected to take place in November on NYSE Euronext.
