Altice increases Numericable stake

October 18, 2013 10.49 Europe/London By Julian Clover

Altice, the investment vehicle of Numericable founder Patrick Drahi has confirmed plans to increase its stake in the company to around 30%.

The move comes as part of the French cablenet’s plans for an IPO.

“As a result of this transaction, Altice will become the largest shareholder of Numericable” by buying shares from private equity owners Carlyle and Cinven, Altice said in a statement.

At present Drahi’s company holds 24%.