Altice in USD1.24bn share sale to help fund Numericable buy

25 Jun 2014

The Luxembourg-based cable group Altice has offloaded EUR911 million (USD1.24 billion) worth of new shares to cut debt and help fund a recent move to increase its interest in France’s Numericable Group to 40%. Altice will use EUR529 million of the proceeds to fund its purchase of a 14% stake in Numericable from private equity firms Cinven Group and Carlyle Group, Business Week reports. In April this year a EUR17 billion deal was agreed to merge Numericable with French mobile operator SFR.

France, Altice Europe (formerly Altice Group), Altice France (SFR)