Altice values telcos at EUR 115m instead of reported EUR 380m
Altice values its Portuguese assets Cabovisao and Oni at EUR 115m, rather than the reported EUR 380m, reported Diario Economico. The Lisbon business paper cited Altice's 1H15 performance update, according to which the book value of Cabovisao is EUR 97.1m and Oni worth EUR 49.1m.
Obliged by EU regulators to divest the two Portuguese telcos as part of its EUR 7.4bn purchase of PT Portugal, Altice had previously expected to raise EUR 300m from Cabovisao and EUR 80m from Oni. The EU-imposed deadline for the disposal of the two firms by Altice has been successively pushed back from the end of June.
Vodafone Portugal is said to be a Cabovisao suitor, while Oni is being eyed by Portuguese telco NOS, the report said. StarTimes of China is no longer interested in Alrice's Portuguese operations.
Diario Economico