Altice to raise Numericable stake to 30 pct in IPO
PARIS Oct 16 (Reuters) - Numericable founder Patrick Drahi confirmed on Wednesday that his investment company, Altice, would raise its stake in the French cable operator to around 30 percent through its planned initial public offering.
"As a result of this transaction, Altice will become the largest shareholder of Numericable" by buying shares from private equity owners Carlyle and Cinven, Altice said in a statement. Altice currently holds 24 percent.
Numericable, which offers packages of pay-TV, Internet and fixed-line calls, plans to list 20 to 40 percent of its capital in an IPO that could value the company at around 5 billion euros ($6.75 billion).
The listing is being carried out partly to allow Cinven and Carlyle an exit after they backed the group in 2005 and 2008 respectively. ($1 = 0.7406 euros) (Reporting by James Regan; editing by Blaise Robinson)
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- Yemeni al Qaeda says attack on hospital was mistake
- Insight: For Chinese farmers, a rare welcome in Russia's Far East