Numericable’s €5bn valuation

 
City A.M. Reporter
FRENCH cable operator Numericable plans to sell its shares for between €20.30 and €24.80 per share in a public offer next week, valuing the private equity-owned company at up to €5.57bn (£3.45bn) including debt.

The offer is seen by executives and investors as a first step towards a shake-up of France’s telecoms sector, which has been stuck in a mobile price war for nearly two years. It also comes at a time of increasing investor interest in European cable companies as all-inclusive bundles of television, internet, mobile and fixed-line calls gain in popularity.

The sale rewards Cinven and Carlyle for backing the group in 2005 and 2008 respectively and will be the largest IPO in France since 2009.