Altice: imminent filing for IPO of Altice USA?

(CercleFinance.com) - According to the financial daily paper Les Echos, the European group Altice will apply for the listing of its US subsidiary Altice USA on Wall Street tomorrow, Wednesday.
This operation is set to raise two billion dollars, with the group's total valuation between 25 billion and 30 billion dollars.

The precise date of the IPO is yet to be determined. The subsidiary, which has over 4.6 million subscribers (people and companies), wants to make its first move into the stockmarket this summer, after the traditional presentation of the company's official tour to investors, the financial daily adds.

The aims of this IPO for Patrick Drahi's telecom group include the reduction of its 50 billion euro debt, in addition to financing acquisitions and reducing the proportion of minority shareholders.


Copyright (c) 2017 CercleFinance.com. All rights reserved.