Luxembourg-based Altice Group is reportedly planning to list on the Euronext stock exchange based in Amsterdam, in order to fund its ongoing international expansion plans. Local news agency BFMTV reports that entrepreneur Patrick Drahi, who is in charge of the private equity fund, revealed the development at a presentation to financial analysts, with a valuation analysis scheduled to be published on 7 January 2014. The initial public offering (IPO) is expected to be led by Goldman Sachs, Morgan Stanley, HSBC, Credit Suisse, Deutsche Bank, Calyon and ING, and initial plans include the flotation of 20% to 25% of the capital. Altrice Group is likely to be valued at between EUR9.5 billion (USD13.06 billion) and EUR12.0 billion.
As previously reported by TeleGeography’s CommsUpdate, in November 2013, the Luxembourg-based company acquired additional shares in Numericable of France from fellow shareholders Cinven and Carlyle, following the successful IPO by the French cable operator. Numericable’s listing on the Paris Stock Exchange generated strong demand from both French and international institutional investors, and was oversubscribed by more than ten times. Subsequently, Altice Group signed an agreement to acquire Dominican integrated telecoms services provider Tricom from its current owner Hispaniola Telecom, a company controlled by Amzak Capital Management and Inversiones Bahia, for an undisclosed sum. In addition, towards the end of the month, Paris-based Orange Group agreed to sell its Orange Dominicana unit to Altice for EUR1.1 billion.