Altice dismisses Portuguese sale rumours

1 Jun 2021

Altice Europe has dismissed local press reports suggesting it has enlisted investment bank Lazard to sell its Portuguese telecoms unit PT Portugal (MEO). After widespread reports indicated that Lazard has been asked to gauge interest from industry players and private equity funds, Altice responded by issuing the following statement: ‘These are rumours and speculations that, as is public knowledge, have been recurrent in the last five years, not only relating to the operation of the Altice Group in Portugal, but also regarding other assets of the Group … Faced with the adverse, hostile and unpredictable regulatory environment that we have lived in Portugal for more than two years, it is still normal for this type of rumour to appear.’

According to TeleGeography’s GlobalComms Database, PT Portugal has been wholly owned by Netherlands-based Altice Europe since June 2015. In December 2014 Brazilian telco Oi agreed to sell the operating unit to Altice in a deal worth EUR7.4 billion (USD9.2 billion), which included a EUR500 million deferred payment related to the Portuguese business’s future performance.

Portugal, Altice Europe (formerly Altice Group), PT Portugal (MEO)