Luxembourg-based telecoms holding Altice is in early-stage talks to sell Portuguese cable operator Cabovisao in order to gain regulatory approval for its planned €7.4bn (US$8.3bn) acquisition of incumbent PT Portugal.
In a video interview with local…
Luxembourg-based telecoms holding Altice is in early-stage talks to sell Portuguese cable operator Cabovisao in order to gain regulatory approval for its planned €7.4bn (US$8.3bn) acquisition of incumbent PT Portugal.
In a video interview with local daily Publico, Altice’s Portuguese co-founder Armando Pereira confirmed that a number of potential suitors have expressed an interest in acquiring the cableco, but no agreement has been reached yet.
At the end of February, the EU competition authority, which is due to decide on the deal on 20 April, said that Altice had offered a number of undisclosed concessions to get the deal cleared, fuelling speculation that the remedies included the sale of Cabovisao and fixed-line player Oni.
Interested parties include Nos and Vodafone Portugal, whose CEO Mario Vaz recently said that the company may consider acquiring the cable operator if price and other conditions were right.
PE funds could also review the asset, a source told TelecomFinance, adding the sale of Cabovisao “will be straightforward”.
A person familiar with the situation said that it would make more sense for Nos to acquire Cabovisao since both operators use the same technologies, therefore leading to greater synergies.
However, he warned that Nos, which is controlled by Angolan billionaire Isabel dos Santos, could face regulatory hurdles since it would become a dominant player.
The sale of Oni would have a marginal impact on Altice since its market share is very low,” an analyst said.
