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Report: Altice, partners consider selling 20% of US cable unit

Altice NV and its partners are considering selling about 20% of the Altice USA business via an initial public offering this quarter, Bloomberg News reported April 7, citing sources.

Patrick Drahi, founder and controlling shareholder of Altice, is reportedly expected to use the proceeds from the potential listing of Altice USA to fund local acquisitions, including a potential play for Cox Communications Inc.

Canada Pension Plan Investment Board and BC Partners own an about 31% stake in Altice USA, according to the report.