Carlyle Group and Cinven are selling their 337.5 million euro ($422 million) stake in Altice, which has risen 70% since its IPO earlier in the year, as reported by Bloomberg.
French Israeli Patrick Dahi owns Altice, a cable company, which has a 14% stake in Numericable Group, France’s largest cable company. Altice purchased the stake from Cinven and Carlyle.
The private equity groups increased the number of shares they are selling in Altice from 5.5 million to 7.5 million.
Drahi was trying to get Numericable to merge with Vivendi SA’s French phone unit. He also made a bid to purchase Brazilian phone company Oi SA’s Portugese assets