KKR files for competition clearance to buy Portugal's Nowo from Apax

News General Portugal 4 OKT 2018
KKR files for competition clearance to buy Portugal's Nowo from Apax

US fund KKR has applied to the Portuguese competition regulator to become the new owner of Portuguese operators Nowo (former Cabovisao) and Oni. The takeover of Cabolink, a holding company owned by the Apax fund, was notified to Portugal's Competition Authority on 26 September and just published by the regulator. 

Cabovisao and Oni were sold by Altice in September 2015 to the Apax fund. The divestment was a condition for Altice to acquire the incumbent operator PT Portugal. 

The new takeover is open to public comment for 10 working days at the Competition Authority. No financial details were disclosed.

The acquisition follows KKR's recent exit from the Balkans market, with the sale of United Group. Nowo is Portugal's fourth-largest operator and recently took its exclusive sports offering with Eleven nationwide with an IPTV box. 

Categories:

General

Companies:

Oni,  Cabovisao,  PT Portugal,  Nowo

Countries:

Portugal

Tags:

Wireline, Wireless, Internet Access, M&A buyouts & divestments

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