Oi picks Altice for exclusive talks on PT Portugal sale

Monday 1 December 2014 | 08:28 CET | News
Altice announced that it has entered into an exclusivity agreement with Oi to negotiate the purchase of the Portuguese assets of Portugal Telecom. Altice's fully financed, binding offer values Portugal Telecom at an enterprise value of EUR 7.4 billion on a cash- and debt-free free basis, up from its initial offer of EUR 7.025 billion. The bid includes EUR 500 million based to future revenue generation of Portugal Telecom. The transaction, net of financial debt, accrued post-retirement liabilities and other purchase price adjustments, will be financed by new debt and existing cash from Altice.

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.


Already registered?

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


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, ...

Oi approves PT Portugal sale to Altice

Published 09 Dec 2014 09:14 CET | Portugal
Brazilian operator Oi's board has approved the sale of PT Portugal to Altice. A week after agreeing exclusive talks with Altice, ...

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 ...

PT Portugal to focus on innovation, market lead, costs

Published 03 Dec 2014 15:41 CET | Portugal
PT Portugal will focus its strategy on three pillars - innovation, market leadership and operational efficiency, company ...

Apax/Bain prepared to up bid for PT Portugal - report

Published 02 Dec 2014 18:51 CET | Portugal
The consortium made up of the investment funds Apax and Bain and Portuguese conglomerate Semapa is able to improve its bid for PT ...

Dos Santos files bid for Portugal Telecom

Published 02 Dec 2014 18:10 CET | Angola
Angolan investor Isabel dos Santos has formally registered her bid for holding company Portugal Telecom SGSP, a spokesman told ...

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 ...

Altice announces partnership with CTT

Published 01 Dec 2014 10:07 CET | Portugal
Telecommunications group Altice said it would partner with Portuguese postal services provider CTT to develop and offer joint ...

Angola's dos Santos maintains bid price for Portugal Telecom

Published 28 Nov 2014 09:01 CET | Portugal
Angola's Isabel dos Santos will maintain her takeover offer of EUR 1.35 a share for Portugal Telecom, considering it fair despite ...

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 ...

Angolan bidder offers changes to Portugal Telecom bid terms

Published 12 Nov 2014 11:08 CET | Angola
Angolan investor Isabel dos Santos is willing to change the terms of her bid to buy Portugal Telecom if necessary, to prevent ...

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 ...

Unions want to stop sale of Portugal Telecom

Published 19 Oct 2014 21:33 CET | Portugal
Trade unions representing workers of Portugal Telecom who met with the new president of PT Portugal, Joao do Mello Franco, have ...

Altice seeks exclusive talks with Oi over Portugal Telecom

Published 09 Oct 2014 17:23 CET | Brazil
Altice is seeking exclusive talks with Brazilian operator Oi to purchase Portugal Telecom, Reuters reported, citing sources ...