Altice Is Considering Seeking Equity Funds for Charter Bid

Patrick Drahi’ s Altice NV is considering asking Canada Pension Plan Investment Table and BC Companions to help fund a potential bid to purchase cable broadcaster Rental Communications Inc. , according to individuals with knowledge of the matter.

Patrick Drahi

Professional photographer: Eric Piermont/AFP via Getty Pictures

Factors are at an early stage and it isn’ t clear how much of an collateral commitment Drahi may seek through the funds, the people said, asking to not be identified as the details aren’ capital t public. Altice hasn’ t however formally approached BC Partners and North america Pension about joining a bid and might decide not to proceed with an provide, they said.

Altice , London-based BC Partners plus Canada Pension, based in Toronto, every declined to comment.

Altice and its Oughout. S. subsidiary, Altice USA, are usually among a group of possible suitors pertaining to Charter that includes Japan’ s SoftBank Group Corp., people familiar with the situation mentioned Aug. 9. The particular Amsterdam-based company hasn’ t however made a formal offer regarding Charter and may also consider some other potential acquisition targets, the people mentioned at the time. Altice realizes that a buy its own for Charter without a companion would be a long shot, said the individuals.

Europe Pension and BC Partners been employed by with Drahi before, agreeing within 2015 to sell a 70 % stake in Suddenlink to the France billionaire. Five months later, the particular pair agreed to buy a $1 billion stake within Cablevision Systems Corp. to financing Altice’ s $17. 7 billion dollars purchase of the U. S. wire company. As part of the first transaction, the particular funds negotiated an option to invest together with Altice on any future offers in North America.

Drahi combined Cablevision with Suddenlink to create Altice USA, which raised $1. 9 billion in its initial general public offering in June. BC Companions owns 26. 4 percent associated with Altice USA while Canada Pension check holds 17 percent of the stocks, according to data compiled by Bloomberg.

A deal for Rental would be Drahi’ s biggest order by far, with a target that’ h larger than Altice and its U. T. unit combined. Charter has a marketplace valuation of about $120 billion, compared to 30. 7 billion euros ($36 billion) for Altice, and $23 billion for Altice USA.