Altice plans to divest Meo as part of restructuring - report (translated)
28 AUG 2018
Altice [AMS:ATC], the French telco listed in the Netherlands, plans to sell its Portuguese cable TV operator Meo as part of a restructuring aimed to lower debts of EUR 50bn, reported Expresso. Sources told the paper that Miguel Relvas, a former minister in Portugal’s previous PSD centre-right government, is leading efforts to find a buyer for Meo.
Ricardo Silva, a friend and business partner and private equity investor, could be part of a consortium that acquires Meo, the same sources said. A trade publication reported last month that Orange [EPA:ORA] of France and Telefonica [LON:TDE] of Spain were the potential suitors. But these reports were denied by Altice.
Meo posted 1H18 sales of EUR 516m and net losses of EUR 157m in 2017, down 5.4% year-on-year, the item said.