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General

Apax, Bain launch rival bid for PT Portugal

Wednesday 12 November 2014 | 09:36 CET | News
The private equity funds Apax Partners and Bain Capital have launched a bid for the Portuguese assets of Brazilian operator Oi worth EUR 7.075 billion, excluding cash and debt. Similar to the earlier offer from Altice for PT Portugal, the offer includes earn-out payments of EUR 400 million based on future revenue and EUR 400 million related to EBITDA generation. The acquisition covers the Portugal Telecom activities in Portugal alone, and excludes its holdings in Africa or the outstanding debt owed by the Group Espirito Santo subsidiary Rio Forte. Oi said it's board would consider the offer

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