Altice Portugal acquisition intensifying

Competition to acquire Altice Portugal is intensifying. 23 non-binding bids have already been submitted to Lazard, the bank that is handling offers for the Portuguese telco operation of Patrick Drahi’s heavily indebted Altice International. These include Warburg Pincus (in partnership with the former chairman of Credit Suisse, Antonio Horta-Osorio), Saudi telecom giant STC, Iliad owner Xavier Niel, Apollo Management and CVC Capital Partners. They have submitted bids between €6bn and €9bn.

And more might be tabled, as Altice is allegedly happy to consider any non-binding offers submitted before the end of January.

Altice International is seeking to sell some of its assets to help slim down its massive $60bn debt pile but will be loath to accept anything other than top-dollar offers.

CT Bureau