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Altice to raise EUR 750 mln in Amsterdam IPO
2014-01-07 09:14:00| Telecompaper Headlines
(Telecompaper) European cable operator Altice has announced plans to list its shares on the stock market in Amsterdam. The company intends to list around a quarter of its shares, raising EUR 750 million for reducing debt. In addition to issuing new shares, the IPO will include the sale of shares by founder and executive chairman Patrick Drahi and other members of management. Altice controls the Israeli cable operator Hot, as well as Numericable in Belgium and Cabovisao in Portugal. It also recently acquired a large stake in Numericable France, during the latter's IPO. The company reported revenues of EUR 2.40 billion for the first nine months of 2013, up 1.1 percent from a year earlier, and EBITDA grew to EUR 1.02 billion from EUR 959 million. Cash flow, measured as EBITDA minus capex, was EUR 563 million. Altice counted 3 million cable customers and another 4.6 million mobile subscribers at the end of September, including its pending acquisition of Tricom and Orange's activities in Dominican Republic.
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Category:Telecommunications