Altice is considering the possibility of expanding its Altice USA cable unit via an initial public offering (IPO), according to unnamed sources cited by Reuters. The unit was created following the acquisition of Cablevision Systems and Suddenlink Communications and is now valued at USD 25-30 billion. Altice is looking to hire underwriters over the comings months and could go public sometime in 2017, said the sources, with one indicating that the IPO could raise close to USD 2 billion. The transaction would give Altice USA money and stock to fund further expansion in the country through the acquisition of midsize players, added the sources.
Altice entered the US market last year by acquiring regional operator Suddenlink for USD 9.1 billion, shortly followed by the country's fourth-largest operator Cablevision for an enterprise value of USD 17.7 billion.
