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General

Oi seeks improved bids for Portuguese assets - report

Thursday 13 November 2014 | 13:53 CET | News
Brazilian operator Oi is seeking a seeking a better offer from two bidders for its Portuguese assets, reports Folha de Sao Paulo. Private equity firms Bain Capital and Apax Partners as well as Altice submitted bids worth around EUR 7 billion, but Oi wants this improved by up to EUR 800 million. Whoever wins will not have to assume the debt of the operator. Both proposals provide for a discount on the final amount to be paid if, under new management, PT does not meet certain targets. Folha learned that it is precisely this discount of up to BRL 2.5 billion that will be central to the

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