Cinven, Carlyle and Altice Group asked about ten banks to submit proposals for a potential listing earlier this year, and has now made its choice according to Reuters, which cited four sources with knowledge of the plan.
It said no bookrunners had been chosen to date, but three were likely to be picked in the next few weeks.
Numericable, together with its high-speed broadband unit Completel, could be worth €4bn to €5bn based on eight times its 2011 profits of €602m, according to earlier reports.
Cinven is looking to exit its stake in Numericable via the IPO, while Carlyle and Altice are expected to keep their stakes.
London-headquartered buyout house Cinven and US peer Warburg Pincus recently made an IRR of 25 per cent exiting Dutch cable company Ziggo.
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