PT Portugal: Apax Partners seeking local partners for bid
Apax Partners is seeking Portuguese partners for its bid on PT Portugal and close to tabling an offer, reported Diario Economico. Sources familiar with the situation told the Lusophone paper that informal contacts between Apax and Oi, owner of PT Portugal, are going well and an offer from the British private equity firm is expected soon.
Apax wants to join forces with one or more Portuguese partners for its bid on PT Portugal, the same sources said. The UK firm had originally planed to make a bid with Bain and CVC but these parties will withdraw as PT Portugal suitors, the sources said. Alltice, the French telco, made a EUR 7bn-plus offer for PT Portugal last week.
Source Diario Economico