Altice Group has announced that Altice USA – the holding company in charge of US cable operators Cablevision Systems and Suddenlink – has filed a registration statement with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of shares of Class A Common Stock. The number of shares to be offered and the price range for the offering have not yet been determined. JP Morgan, Morgan Stanley, Citigroup and Goldman, Sachs & Co. are serving as joint book-running managers for the proposed offering.
Altice USA is said to be valued at between USD25 billion and USD30 billion, while the IPO could raise as much as USD2 billion, it has been suggested. If successful, the IPO is expected to pave the way for Altice to embark on a Stateside spending spree. Following its dual acquisition of Suddenlink and Cablevision, the group named Cox Communications as a desirable takeover target, although the Atlanta-based firm has sought to quash such speculation. Further down the cableco pecking order, potential acquisition targets include the likes of Mediacom, Wide Open West (WOW!), Cable ONE, Atlantic Broadband, Wave Broadband, RCN Telecom and Midco.