Altice Plans IPO
Altice USA is planning an initial public offering of an undetermined number of Class A shares of common stock, it said in a prospectus filed Tuesday with the SEC. Altice said that since its 2015 acquisition of Suddenlink and 2016…
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acquisition of Cablevision, it has made a number of operational changes for greater efficiency, upgraded its networks and expanded its 1 Gbps broadband service to about 60 percent of the Suddenlink footprint, compared to about 40 percent prior to the acquisition. It said it started its five-year fiber to the home (FTTH) buildout, which will bring speeds of more than 10 Gbps to its Cablevision footprint and part of its Suddenlink footprint. The firm said it plans to introduce a new home communications hub in Q2 that incorporates a set-top box, internet router and cable modem. In a note to investors, Pivotal Research Group analyst Jeff Wlodarczak said Altice's U.S. operations are showing "solid operating momentum" that should ratchet further upward by the FTTH move.