A PYMNTS Company

Portugal: Altice moves to thwart Portugal Telecom/Oi tie-up

By  |  October 6, 2014

Telco holding company Altice is reportedly exploring a plan to acquire Portugal Telecom in efforts to break up PT’s current agreement to merge with Oi.

An unnamed source told reporters that Altice hopes to strike a deal within weeks with Portugal Telecom. Any deal would need approval from Oi, which currently controls the merged telco, say reports. The merger is not yet complete, but reports say PT has already transferred local assets to Oi.

Portugal Telecom has a market value of about $1.9 billion say reports.

Altice has sought to boost assets throughout Europe and earlier this year agreed to acquire France’s SFR in a $23 billion takeover.

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.