Deal Reporter
Altice [AMS:ATC] has attracted an offer from a Chinese strategic bidder for Oni and Cabovisao, this news service has learned.
As previously reported, Altice has to sell Cabovisao and Oni as a condition of the European Commission’s (EC) clearance of its acquisition of PT Portugal.
In addition to bids from local players Vodafone [LON:VOD] and NOS [ELI:NOS], there is a Chinese telecoms company in the running, a private equity firm and another strategic player bidding only for Oni, it is understood.
It is understood that the due diligence stage has ended and that the process has entered a stage whereby the advisers plan to shortlist candidates.
NOS, the local cable telecoms operator controlled by conglomerate Sonae and Angolan investor Isabel dos Santos, is expected to face the most serious competition issues, it was said.
Cabovisao is reportedly worth about EUR 300m and Oni about EUR 80m.
Altice is being advised by Perella Weinberg Partners and Uria Menendez.
An Altice spokesperson did not respond to requests for comment.