Telecom investor Altice to raise €750MN in Amsterdam IPO:
http://www.satsupreme.com/showthread.php/276085-Telecom-investor-Altice-to-raise-€750MN-in-Amsterdam-IPO?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
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Telecom investor Altice to raise €750MN in Amsterdam IPO
Pascale Paoli-Lebailly | 07-01-2014
Cable and telecoms company Altice SA, which notably holds 30% of cable operator Numericable, has announced its intention to launch an IPO on NYSE Euronext in Amsterdam, aiming to raise €750 million in order to reduce the group’s debts.
The offering will comprise an issue of new ordinary shares plus a sale of existing shares by founder and executive chairman, Patrick Drahi, and selected members of management.
The initial plans include the flotation of 20%-25% of the capital.
In addition to the recent acquisition of a large stake in Numericable France, after the latter’s Paris IPO in October, Altice operates in Western Europe where it controls Coditel in Belgium and Cabovisao in Portugal.
It is also present in Israel with cable operator Hot, and in the French Overseas Departments and Territories.
Following the acquisition of the Orange subsidiary, Altice has also set up in the Dominican Republic, passing a total of approximately 13.9 million homes.
The company reported revenues of €2.40 billion for the first nine months of 2013, up 1.1% from a year earlier, and EBITDA grew to €1.02 billion from € 959 million.
Adjusted EBITDA margin established at 42.3% last November.
The group has also announced the nomination of Michel Combes (51), CEO of Alcatel-Lucent, as independent non-executive director.
Pascale Paoli-Lebailly | 07-01-2014
Cable and telecoms company Altice SA, which notably holds 30% of cable operator Numericable, has announced its intention to launch an IPO on NYSE Euronext in Amsterdam, aiming to raise €750 million in order to reduce the group’s debts.
The offering will comprise an issue of new ordinary shares plus a sale of existing shares by founder and executive chairman, Patrick Drahi, and selected members of management.
The initial plans include the flotation of 20%-25% of the capital.
In addition to the recent acquisition of a large stake in Numericable France, after the latter’s Paris IPO in October, Altice operates in Western Europe where it controls Coditel in Belgium and Cabovisao in Portugal.
It is also present in Israel with cable operator Hot, and in the French Overseas Departments and Territories.
Following the acquisition of the Orange subsidiary, Altice has also set up in the Dominican Republic, passing a total of approximately 13.9 million homes.
The company reported revenues of €2.40 billion for the first nine months of 2013, up 1.1% from a year earlier, and EBITDA grew to €1.02 billion from € 959 million.
Adjusted EBITDA margin established at 42.3% last November.
The group has also announced the nomination of Michel Combes (51), CEO of Alcatel-Lucent, as independent non-executive director.
http://www.satsupreme.com/showthread.php/276085-Telecom-investor-Altice-to-raise-€750MN-in-Amsterdam-IPO?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
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