Drahi’s Altice Files for U.S. Unit IPO to Fuel Acquisitions

Billionaire Patrick Drahi’s Altice NV filed for an initial public offering of its U.S. cable-TV business, as the European mogul exploits stock-market gains to create currency for further expansion.

Altice and its co-investors, Canada Pension Plan Investment Board and BC Partners, will each sell some of their Altice USA Inc. holdings in what promises to be one of the year’s biggest IPOs. A preliminary regulatory filing on April 11 offered no details on how much stock each would sell or valuations. Altice USA was formed from two U.S. acquisitions, Cablevision Systems Corp. and Suddenlink, in the past two years, for ...