Altice moving into Portugal

Oliver Smith
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FRENCH multinational cable and telecoms group Altice has agreed to buy the Portuguese operations of Brazil’s Grupo Oi for about €7.4bn (£5.8bn), it said last night.

“Altice announces that it has entered into an exclusivity agreement with Oi to agree the purchase of the Portuguese assets of Portugal Telecom,” said Altice.

Altice beat out a rival bid from private equity funds Apax and Bain, and will now add another country to its portfolio.

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