Netherlands-based telecoms company Altice Group has announced the completion of the dual-pronged transaction to sell Portuguese telecoms firms Cabovisao and Oni Communications to Paris-based investment fund Apax France. The total value of the deal, which was agreed in September 2015, has not been disclosed.
According to TeleGeography’s GlobalComms Database, Altice concluded the EUR7.4 billion (USD9.2 billion) acquisition of PT Portugal (MEO) in June last year and was obliged to sell the aforementioned units as part of an EC mandate. Altice acquired Cabovisao from Canada’s Cogeco in Q1 2012, paying EUR45 million for the unit. Subsequently, in May 2013 Altice agreed to buy a 95.5% stake in ONI for EUR83 million.