Altice USA plans to take the first steps this week toward an initial public offering on the New York Stock Exchange, a person familiar with the matter told AFP Monday.
Altice USA, the affiliate of Netherlands-based telecom giant Altice led by billionaire Patrick Drahi, plans to file papers by Wednesday with the U.S. Securities and Exchange Commission to launch an IPO, a banking source familiar with the matter said. That key first step would be followed by a series of "road show" presentations to investors ahead of an initial public offering and the start of trading over the summer.
The funds raised would go to reduce debt and finance additional acquisitions in the United States, where Altice currently is the fourth biggest cable operator and operates in about 20 states.
The offering would come amid a period of flux in the U.S. telecom landscape, which is expected to accelerate under the administration of President Donald Trump, who is expected to employ a light touch on regulation.
Altice USA could acquire ventures such as Verizon's Fios or Cox Communications, banking sources told AFP.
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