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.
City A.M. Reporter