PARIS, April 11 Altice, the telecoms
and cable holding company owned by billionaire Patrick Drahi,
kicked off on Tuesday the formal process for the initial public
offering (IPO) of its U.S. activities in New York.
The debt-fuelled group, whose division Altice USA was put
together after acquiring Cablevision and Suddenlink
Communications, aims to increase its financial firepower to buy
assets in the broadband and media businesses in the country, it
said in the document filed with the U.S. markets watchdog.
The size of the shares sale and price range have not yet
been determined, Altice said in a statement. Sources told
Reuters in October that the IPO could raise close to $2 billion.
JP Morgan, Morgan Stanley, Citigroup
and Goldman Sachs are the banks serving as joint
book-runners on Altice's U.S initial public offering.
(Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by