Altice’s acquisition of Oni has moved a step closer after the Portuguese competition authority (PCA) chose not to oppose its planned subsequent merger with cableco Cabovisao, which the private equity fund already owns.
At the start of June, investment…
Altice’s acquisition of Oni has moved a step closer after the Portuguese competition authority (PCA) chose not to oppose its planned subsequent merger with cableco Cabovisao, which the private equity fund already owns.
At the start of June, investment fund Altice confirmed that it had agreed to purchase Portuguese telco Oni from PE firms The Riverside Company and Gestmin for a reported €83m (US$108m).
The regulator said it did not believe the tie-up between enterprise-focused Oni and cableco Cabovisao was likely to “significantly impede effective competition”.
Altice entered Portugal last year when it bought Cabovisao from French Canadian group Cogeco for a knock-down price of US$60m.
The Luxembourg-based fund – controlled by French businessman Patrick Drahi – owns Hot Telecommunications in Israel, a significant stake in cableco Numericable, Outremer Telecom, and a Swiss ICT solutions business, alongside Cabovisao.
Oni operates a next-generation network and specialises in providing internet, voice and data services to corporate clients and the government.
