Luxembourg-based telecoms group Altice has selected independent advisory and asset management firm Perella Weinberg Partners to oversee the sale of its Cabovisao and Onitelecom units in Portugal, Diario Economico reports. Perella Weinberg previously advised Altice in its EUR7.4 billion (USD9.2 billion) acquisition of PT Portugal (MEO) – the transaction that led the European Commission (EC) to compel Altice to offload its existing Portuguese assets. As previously reported by TeleGeography’s CommsUpdate, Vodafone Portugal is the frontrunner in the race to buy the assets, with a valuation of EUR300 million cited by Bloomberg last month.
According to TeleGeography’s GlobalComms Database, Altice acquired Cabovisao from Canada’s Cogeco in Q1 2012, paying just EUR45 million. Subsequently, in May 2013 Altice agreed to buy a 95.5% stake in Onitelecom for EUR83 million.