Investors looking for opportunities to bet on the U.S. cable market may have a new option soon: The No. 4 operator — Amsterdam-based Altice — says today it is “exploring the possibility” of an initial public offering here to sell “a minority interest in its U.S. operations.”
The company warns, though, that “no decisions have been taken” and there’s “no assurance” it will proceed.
Altice became a cable and broadband player in the U.S. following its acquisitions of Cablevision and Suddenlink. It has about 4.3 million residential customers in 20 states, including a heavy concentration on Long Island and around New York City.
Today’s announcement follows Altice’s disclosure last month that it plans to build fiber optic cable networks capable of delivering broadband speeds as high as 10 Gb per second. That’s up from 300 Mb per second at the Optimum systems it inherited from Cablevision.
The company is controlled by Patrick Drahi while Dexter Goei oversees the U.S. operations.