Sources: Altice weighs IPO of U.S. operations
Altice logo Credit: Altice
Altice N.V. is considering options to raise money for expansion in the United States, including an initial public offering of the cable-TV business it created by buying Cablevision Systems and Suddenlink, according to people with knowledge of the situation.
An IPO of Bethpage-based Altice USA is one option, said the people, who asked not to be identified. Other options being considered are raising more capital by Altice N.V., or more borrowing, one of the people said.
Altice USA owns a 25 percent stake in Newsday Media Group.
“We are focused on execution; we do not plan anything else at this stage,” Arthur Dreyfuss, head of communications at Altice, said in a phone interview.
Netherlands-based Altice had 54.6 billion euros ($59.6 billion) in long-term debt at the end of June. An IPO would signal Altice intends to keep buying assets in the U.S.
— with Newsday Staff
