Telecoms holding Altice has agreed to partner with Portugal’s national postal service CTT to develop and offer joint services if it wins the bidding war for PT Portugal.
Altice and CTT intend to work closely together to identify and develop areas of…
Telecoms holding Altice has agreed to partner with Portugal’s national postal service CTT to develop and offer joint services if it wins the bidding war for PT Portugal.
Altice and CTT intend to work closely together to identify and develop areas of cooperation, the Luxembourg-based holding said in a statement, noting that it “recognises the strategic industrial expertise and management know-how in various areas complementary to the business of PT Portugal”.
The alliance would see the two companies work together to distribute telecoms products and services as well as develop new business ventures to address the growth of e-commerce and financial services in Portugal, Altice said.
The holding added that CTT has welcomed the opportunity to take advantage of its experience in the French market, where its newly-merged cable and telecoms subsidiary Numericable-SFR has a partnership with La Poste, which now has a mobile service piggybacking on SFR’s network.
Altice has submitted a €7.03bn bid for the Portuguese assets of Brazilian telco Oi. Yesterday, Portuguese holding company Semapa announced it would make a joint bid with private equity firms Apax Partners and Bain Capital for the assets. A spokesperson for Semapa told TelecomFinance a binding bid could come today.
Apax and Bain have already submitted a €7.075bn (US$8.8bn) non-binding offer for the assets but, last Friday, a Brazilian report suggested they were looking to improve their offer by €500m.
Earlier this week Oi issued a statement in response to the Brazilian report saying it had not received any offers for its Portuguese assets in addition to those already announced.
