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Altice to buy Portuguese assets of Portugal Telecom

Staff writer |
Altice has entered into an exclusivity agreement with Oi to agree the purchase of the Portuguese assets of Portugal Telecom.

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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.

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