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General

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.

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