0
General

Oi approves PT Portugal sale to Altice

Tuesday 9 December 2014 | 09:14 CET | News
Brazilian operator Oi's board has approved the sale of PT Portugal to Altice. A week after agreeing exclusive talks with Altice, Oi agreed to the price of EUR 7.4 billion plus up to EUR 500 million based on the company's future revenue. Final approval of the sale will still depend on approval from shareholders of Portugal Telecom. The deal sees Oi left with only PT's assets outside Portugal, mainly in Africa and East Timor, as well as its debts, including what is owed to the company by Rio Forte, the bankrupt subsidiary of Espirito Santo. The Brazilian operator is expected to use the proceeds

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: General
Companies: Altice Europe / Oi / Portugal Telecom / PT Portugal
Countries: Brazil / Portugal
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Oi holds auction of combined shares

Published 21 Jun 2015 21:29 CET | Brazil
Brazilian telecommunications operator Oi has announced that from 23 June, subsequent auctions will be held on the BM&FBOVESPA to ...

Oi says PT Portugal creditors approve debt transfer

Published 20 May 2015 11:09 CET | Brazil
Oi announced that the holders of EUR 400 million in bonds issued by PT Portugal and guaranteed by Oi approved the transfer of the ...

Altice wins approval for PT takeover, must sell Cabovisao

Published 21 Apr 2015 08:53 CET | Portugal
Altice announced that it received European Commission approval for its takeover of PT Portugal. The decision is conditional on ...

PT convenes creditors to agree debt transfer

Published 10 Apr 2015 10:53 CET | Portugal
PT Portugal convened a meeting of bondholders for 4 May, reports Jornal de Negocios. The only point on the agenda is the passage ...

Altice pro forma revenue down 4.6% in 2014

Published 05 Mar 2015 08:45 CET | France
Altice reported revenues of EUR 13.5 billion for 2014, down 4.6 percent on a pro forma basis for its takeover of Numericable-SFR. ...

PT, Oi find buyer for Timor Telecom stake - report

Published 28 Jan 2015 12:27 CET | Timor-Leste
Portugal Telecom and Oi have written to the East Timor government saying they may have a potential buyer for their stake in Timor ...

Oi debtholders approve PT Portugal sale

Published 27 Jan 2015 12:22 CET | Brazil
Brazilian operator Oi announced that its debtholders have approved the proposed sale of PT Portugal to Altice. The company ...

Portugal Telecom shareholders approve PT sale to Altice

Published 23 Jan 2015 09:10 CET | Portugal
Shareholders of Portugal Telecom have approved the sale of PT Portugal to Altice. After earlier suspending the vote on the ...

Timorese businessman wants to increase Timor Telecom stake

Published 16 Jan 2015 14:01 CET | Portugal
The Timorese businessman Julio Alfaro said he is interested in expanding his participation in Timor Telecom if PT put its ...

Portugal Telecom shareholders delay vote on Altice deal

Published 13 Jan 2015 09:05 CET | Portugal
The shareholders meeting of Portugal Telecom on 12 January was suspended and rescheduled for 22 January. The decision came after ...

PT AGM chairman says Oi-PT merger deal 'invalid'

Published 12 Jan 2015 09:11 CET | Brazil
The chairman of Portugal Telecom's shareholder assembly has proposed the board cancel the 12 January vote to approve the sale of ...

ISS advises PT SGPS shareholders to accept Altice offer

Published 24 Dec 2014 10:05 CET | Brazil
ISS, a US association that advises investors in certain businesses, is advising the shareholders of PT SGPS to accept the ...

Altice aims to close PT Portugal buy by Q2 2015 - report

Published 19 Dec 2014 12:14 CET | Portugal
French group Altice expects to complete the purchase of PT Portugal from Brazilian operator Oi between April and June next year, ...

Oi CEO says PT proceeds may go to TIM bid

Published 18 Dec 2014 15:56 CET | Brazil
The CEO of Oi, Bayard Gontijo told Bloomberg the Brazilian operator would use proceeds from the sale of its Portuguese assets to ...

Altice open to sale of Cabovisao if required - report

Published 18 Dec 2014 10:23 CET | Portugal
Altice would sell its Portuguese cable operator Cabovisao in order to ensure regulatory approval of its planned acquisition of PT ...

Portugal Telecom shareholders to vote 12 January on PT sale

Published 12 Dec 2014 09:57 CET | Portugal
The shareholders of Portugal Telecom will vote 12 January on the proposed sale of the operator's Portuguese assets to Altice. Oi, ...

Altice signs definitive takeover agreement for PT Portugal

Published 10 Dec 2014 09:13 CET | Portugal
Altice said it has signed a definitive agreement with Oi to purchase the Portuguese assets of Portugal Telecom. The assets ...

Dos Santos Portugal Telecom bid aims for synergies

Published 05 Dec 2014 11:02 CET | Angola
The takeover bid for holding company Portugal Telecom SGPS launched by Angolan investor Isabel dos Santos is aimed at becoming a ...

TIM Brasil CEO says no need for deal with Oi

Published 03 Dec 2014 10:19 CET | Brazil
The CEO of TIM Brasil, Rodrigo Abreu, reiterated that the operator has no need to partner with rival Oi, although he does not ...

Portugal Telecom board members resign

Published 02 Dec 2014 17:57 CET | Portugal
Portugal Telecom has announced that Carlos Alves Duarte, Pedro Durao Leitao and Manuel Rosa da Silva have resigned as members of ...

Altice could raise EUR 5.7 bln debt to purchase PT - report

Published 02 Dec 2014 10:47 CET | Portugal
Altice Group could raise up to EUR 5.7 billion in fresh debt to fund the purchase of the Portuguese operations of Brazilian ...

Oi picks Altice for exclusive talks on PT Portugal sale

Published 01 Dec 2014 08:28 CET | Portugal
Altice announced that it has entered into an exclusivity agreement with Oi to negotiate the purchase of the Portuguese assets of ...

Oi to prefer Altice bid for PT Portugal – report

Published 20 Nov 2014 10:01 CET | Brazil
Brazilian operator Oi is expected to favour the bid submitted by Altice for PT Portugal, although the Apax and Bain funds bid EUR ...

Oi seeks improved bids for Portuguese assets - report

Published 13 Nov 2014 13:53 CET | Brazil
Brazilian operator Oi is seeking a seeking a better offer from two bidders for its Portuguese assets, reports Folha de Sao Paulo. ...

Apax, Bain launch rival bid for PT Portugal

Published 12 Nov 2014 09:36 CET | Portugal
The private equity funds Apax Partners and Bain Capital have launched a bid for the Portuguese assets of Brazilian operator Oi ...

Nos shareholder makes offer for Portugal Telecom

Published 10 Nov 2014 09:20 CET | Portugal
Isabel dos Santos, the daughter of Angola's president, has launched a takeover bid for Portugal Telecom. In a statement published ...

Altice bids over EUR 7 billion for PT Portugal

Published 03 Nov 2014 08:30 CET | Portugal
Altice has made a binding offer to acquire the Portuguese assets of Portugal Telecom from Oi for EUR 7.025 billion. The offer ...





Calendar   /   Industry Events

26 Oct Cabsat
26 Oct MWC Los Angeles
27 Oct Android Dev Summit
28 Oct Millicom Q3 2021
28 Oct CyrusOne Q3
28 Oct Telefonica Brasil Q3
28 Oct Rovio Q3 2021
28 Oct MTN Nigeria Q3 2021
28 Oct STMicroelectronics Q3
28 Oct Comcast Q3
28 Oct Nokia Q3 2021
28 Oct Telenor Q3 2021
28 Oct Swisscom Q3 2021
28 Oct American Tower Corporation Q3
28 Oct Poly fiscal Q2
28 Oct HKBN FY results
28 Oct Amazon Q3
28 Oct Samsung Electronics Q3 2021
28 Oct CoreSite Q3 2021
28 Oct Airtel Africa Q3 2021
28 Oct Veon Q3 2021
28 Oct Apple fiscal Q3
28 Oct Telenet Q3 2021
28 Oct Cellnex Q3 2021
28 Oct Berec stakeholders forum
28 Oct Facebook Connect
29 Oct Proximus Q3 2021
29 Oct Tecnotree Q3 results
29 Oct Charter Communications Q3
29 Oct Shaw Communications fiscal Q3
29 Oct NEC fiscal Q2
29 Oct Shentel Q3 2021
29 Oct Hrvatski Telekom Q3 2021
::: More Calendar Items