Altice Group, parent company of Numericable, SFR French, announced Sunday evening entered into exclusive negotiations with the Brazilian operator Oi for the purchase of Portugal Telecom.
Altice offer was made on the basis of an enterprise value of 7.4 billion euros.
The group of French-Israeli billionaire Patrick Drahi filed November 3 a firm offer of 7.025 billion euros to buy Portugal Telecom, whose assets are now integrated into the Brazilian operator Oi.
The investment fund Apax and Bain Capital had made an offer of 7.075 billion euros.
The Angolan Isabel dos Santos, the richest woman in Africa, launched a tender offer (OPA), through its Terra Peregrin, amounting to 1.2 billion euros. His offer was immediately deemed “inappropriate” by Oi, which had then found that these conditions were “unacceptable”.
This is the third major acquisition for Altice after SFR finalized Thursday to 13.36 billion euros, giving birth to the whole “Numericable, SFR” which he will hold 60% and Virgin, for the redemption which the group received the same day, the green light of the Competition Authority.
Altice announced Friday it had reached an agreement in principle with the Portuguese postal CTT Group, to “develop synergies” on the telecommunications market in Portugal.
The agreement, which will come into force if Altice won the race to buy the incumbent Portugal Telecom, provides that CTT will receive up to € 30 million.
Altice is already present in Portugal, which he bought in 2012 the Portuguese cable operator Cabovisao and 2013 Oni, telecommunications service provider for business.
Portugal Telecom operator employs nearly 11,000 people and owns between 40% and 50% share of the mobile market, broadband and television in Portugal.
Sale of assets of Portugal Telecom jeopardizes the ongoing merger with the Brazilian operator Oi, which was to give birth to a Portuguese telecommunications giant.
In fact, these assets were already incorporated in Oi in May, during a capital increase of the Brazilian operator who has not yet clarified its intentions on the result of the merger.
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