Altice to buy Portuguese assets of Portugal Telecom
Altice's fully financed, binding offer values Portugal Telecom at an enterprise value of €7.4bn on a cash and debt-free free basis which includes €500m consideration related to the 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.
Should a final agreement be entered in to, the transaction will require corporate approvals and will be subject to standard regulatory approvals for a transaction of this nature. ■