Telecom investor Altice to raise €750M in Amsterdam IPO

By VCPOST Staff Reporter

Jan 07, 2014 04:03 AM EST

Luxembourg's Altice SA plans to raise about €750 million ($1 billion) in an initial public offering to reduce debt. Altice is a telecom investor founded by French-Israeli businessman Patrick Drahi.

According to the deal's terms obtained by Bloomberg, Altice plans to have its shares traded in the Amsterdam Stock Exchange. Investment banks Goldman Sachs Group Inc. and Morgan Stanley are the global coordinators and joint bookrunners. Drahi is among the selling shareholders.

Altice owns and operates cable, mobile, Internet and data-center companies in places including France, Israel, Belgium, the Indian Ocean region, Portugal and Switzerland. It is a major shareholder in France's largest cable operator Numericable SAS. Numericable also held an IPO last year, the report said.

Altice agreed to buy French telecom company Orange SA's Dominican Republic unit for $1.4 billion in November. It generated earnings before interest, taxes, depreciation and amortization of about €1.1 billion for the nine months ended September 30, Bloomberg said.  

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