Altice USA – the holding company in charge of US cable operators Cablevision Systems and Suddenlink – is considering options to raise money for expansion in the US, including an initial public offering (IPO), Reuters reports, citing people with knowledge of the situation. The move would allow Netherlands-based Altice Group to expand its emergent US cable empire by providing Altice USA with public stock it can use as currency to help finance more acquisitions, the sources indicated late last week.
Altice USA plans to invite investment banks to make presentations in the coming weeks about their role in a potential IPO in New York, and underwriters could be hired as early as January. The company could then go public sometime in 2017, subject to market conditions. Altice USA is now valued at between USD25 billion and USD30 billion, while the IPO could raise close to USD2 billion, one of the sources added.