Nos, Vodafone in talks over Cabovisao, Onitelecom

11 Jun 2015

Altice Group is negotiating the sale of its Portuguese Cabovisao and Onitelecom units as a EUR300 million (USD339.1 million) package, Jornal de Negocios reports, and is currently in discussions with three parties, namely Vodafone Portugal, Nos (formerly Zon-Optimus) and an as yet unnamed investment fund. Altice, which concluded the EUR7.4 billion (USD9.2 billion) acquisition of PT Portugal (MEO) last week, is obliged to sell the units as part of a European Commission (EC) mandate.

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.