The fourth largest cable operator in the U.S and the domestic cable arm of European telecom giant Altice N.V., Altice filed plans for an initial public offering (IPO) on the New York Stock Exchange on Tuesday. Altice USA could raise more than $1 billion from the exercise, according to industry sources.
Altice became a cable and broadband player in the U.S following its acquisitions of Cablevision and Suddenlink last year. In its IPO prospectus, Altice said that, "We deliver broadband, pay television, telephony services, Wi-Fi hot spot access, proprietary content and advertising services to approximately 4.9 million residential and business customers."
JP Morgan, Morgan Stanley, Citigroup and Goldman Sachs are the banks serving as joint book-runners on Altice's U.S initial public offering.
