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Altice wins bid to acquire PT Portugal after bettering its proposal

The French group Altice wins the run to acquire PT Portugal that includes MEO, fixed phone network and the innovation area of the group.

Altice increased its initial offer from 7,205 million euros to 7,400 million euros to be paid in cash. Approximately 500 million euros will be paid with future income.

This value includes the debt valued at 5,700 million euros in the 3rd quarter. The closing of the deal is still dependent of approval by the Competition entity as well as of the General Assemblies of both Oi and PT SGPS.

The operation will be financed by a consortium formed by Morgan Stanley, Goldman Sachs, JP Morgan, Crédit Suisse and Deutsche Bank.

Source: Vítor Norinha, Oje

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