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.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.
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