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General

Altice bids over EUR 7 billion for PT Portugal

Monday 3 November 2014 | 08:30 CET | News
Altice has made a binding offer to acquire the Portuguese assets of Portugal Telecom from Oi for EUR 7.025 billion. The offer excludes PT's assets in Africa and the Rio Forte debt securities, Oi treasury shares and Portugal Telecom financing companies. Altice said the bid gives PT Portugal an enterprise value of EUR 7.025 billion on a cash- and debt-free basis. It includes a EUR 400 million earn-out related to the future revenue generation of Portugal Telecom and a EUR 400 million earn-out based on future operating free cash flow (EBITDA less capex). If accepted, the bid would be financed by

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Categories: General
Companies: Altice Europe / Oi / Portugal Telecom
Countries: Portugal
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