The US division of Dutch cable operator Altice -- the outfit that acquired Cablevision Systems and Suddenlink Communications in recent years -- has filed for a long-awaited initial public offering that could net it $1 billion and value the unit at $20 billion, reports Investor's Business Daily.
Bethpage, Long Island-based Altice USA, Inc. has 4.9 million customers in the United States, and booked $9.15 billion in revenue for 2016, versus $8.97 billion in 2015, according to the April 11 IPO filing. (See Altice Considers IPO for Its US Operations.)
Altice USA reported a loss of $656,143 for 2016, compared to $1.09 million for the year before.
Altice has become the fourth-largest MSO in the US, mainly through acquisition. Altice USA has publicly elucidated a strategy to pass 8 million American homes with fiber by 2022. It has said that such a FTTH deployment will cost nearly $10 billion all told. (See Altice USA Sticks to High-Fiber Diet.)
The US unit has not indicated whether it plans further acquisitions to help expand its FTTH footprint. Its European parent, however, is known for its acquisitive ways. (See What's It All About, Altice?)
The unit also spun out its New York-based technical staff into a separate company late in 2016. (See Altice Spins Out Technical Workforce in US.)
Altice has previously been rumored as a potential suitor for Time Warner Cable Inc. (NYSE: TWC) (which ended up being acquired by Charter last year) and T-Mobile US Inc. , and expanding its presence in the US appears to be a key objective for the company.
— Dan Jones, Mobile Editor, Light Reading