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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Altice Europe N.V.    ATC   NL0011333752

ALTICE EUROPE N.V.

(ATC)
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Altice IPO pricing values U.S. business at up to $22 billion

06/12/2017 | 02:47pm EST

PARIS (Reuters) - Altice USA, the cable operator that Netherlands-based Altice NV (>> Altice) put together by acquiring Cablevision and Suddenlink Communications, will be valued at up to $22 billion (17.38 billion pounds) after its initial public offering (IPO) on the New York Stock Exchange.

PARIS (Reuters) - Altice USA, the cable operator that Netherlands-based Altice NV (>> Altice) put together by acquiring Cablevision and Suddenlink Communications, will be valued at up to $22 billion (17.38 billion pounds) after its initial public offering (IPO) on the New York Stock Exchange.

The Dutch holding company said on Monday that it plans to sell up to 7 percent of Altice USA, indicating an expected price range of $27-$31 per share, valuing the business at between $20 billion and $22 billion.

Of the projected $1.6 billion in proceeds at the top end of the price range, Altice USA would receive $374 million because about three quarters of the shares sold will be offered by London-based private equity firm BC Partners and fellow stakeholder the Canadian Pension Plan Investment Board (CPPIB).

The IPO announced in April is viewed as a means for Altice's founder, French billionaire Patrick Drahi, to expand his burgeoning U.S. cable empire by giving Altice USA public stock it can use for further acquisitions.

Altice USA will need all the financial firepower it can muster to compete for U.S. acquisitions with rivals Charter Communications Inc (>> Charter Communications Inc) and Comcast Corp (>> Comcast Corporation) in an expected wave of sector consolidation.

The company has yet to indicate when it expects the IPO to take place.

Upon completion of the IPO, Altice USA's parent and its affiliates will hold 75.2 percent of the company's capital and 98.5 percent of the voting rights thanks to a separate bundle of stock.

BC Partners and CPPIB would jointly own about 17 percent of Altice USA, according to its filing to the U.S. Securities and Exchange Commission (SEC).

This means that Drahi, the majority owner of Altice, will keep tight control of its U.S. division, led by Dexter Goei.

JP Morgan (>> JP Morgan Chase & Company), Morgan Stanley (>> Morgan Stanley), Citigroup (>> Citigroup) and Goldman Sachs (>> Goldman Sachs Group) are joint bookrunners on the IPO.

(Editing by David Goodman)

By Mathieu Rosemain


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
ALTICE EUROPE N.V. 1.21% 5.35 Real-time Quote.0.41%
CHARTER COMMUNICATIONS, INC. -0.58% 646.69 Delayed Quote.-2.25%
CITIGROUP INC. -0.87% 61.33 Delayed Quote.-0.54%
COMCAST CORPORATION -0.92% 48.68 Delayed Quote.-7.10%
LINE CORPORATION 0.00% 5350 End-of-day quote.0.00%
MORGAN STANLEY -0.76% 74.13 Delayed Quote.8.17%
THE GOLDMAN SACHS GROUP, INC. 0.01% 289.39 Delayed Quote.9.73%
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2020ALTICE EUROPE N : founder raises offer to take the firm private
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2020ALTICE EUROPE N.V. ANNOUNCES CLOSING : 30 am CET
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More news
Financials
Sales 2020 14 984 M 18 234 M 18 234 M
Net income 2020 -252 M -307 M -307 M
Net Debt 2020 31 247 M 38 024 M 38 024 M
P/E ratio 2020 -20,2x
Yield 2020 -
Capitalization 6 491 M 7 901 M 7 899 M
EV / Sales 2020 2,52x
EV / Sales 2021 2,41x
Nbr of Employees 45 409
Free-Float 46,0%
Chart ALTICE EUROPE N.V.
Duration : Period :
Altice Europe N.V. Technical Analysis Chart | ATC | NL0011333752 | MarketScreener
Technical analysis trends ALTICE EUROPE N.V.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 4,95 €
Last Close Price 5,35 €
Spread / Highest target 82,2%
Spread / Average Target -7,51%
Spread / Lowest Target -25,2%
EPS Revisions
Managers and Directors
NameTitle
Alain Phillippe Romain Weill Chief Executive Officer & Executive Director
Patrick Drahi President & Executive Director
Jurgen van Breukelen Chairman
Armando Pereira Chief Operating Officer
Malo Pascal Jean-Pierre Corbin Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
ALTICE EUROPE N.V.0.41%7 901
VERIZON COMMUNICATIONS INC.-2.52%237 816
CHARTER COMMUNICATIONS, INC.-2.25%129 257
NIPPON TELEGRAPH AND TELEPHONE CORPORATION2.04%95 517
DEUTSCHE TELEKOM AG0.74%86 978
SAUDI TELECOM COMPANY5.09%59 332