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Altice targets €750 million IPO

Multinational cable and telco firm Altice has announced plans to float on the stockmarket, saying it expects the initial public offering to raise around €750 million. 

Altice said that it will use the proceeds to reduce its debt and to pay for transaction costs relating to the offering, with plans to list its shares on NYSE Euronext in Amsterdam.

Announcing the move, Altice, which owns 40% of French cable operator Numericable, said that for the nine months ended September 30, its pro forma adjusted EBITDA was €1.1 billion.

The firm also has a presence in Israel, Belgium and Luxembourg, Portugal, the French West Indies and Indian Ocean Area and the Dominican Republic.