PT Portugal: Portugal Telecom could take 20% stake in Altice's EUR 7.4bn bid - report
Portugal Telecom (PT) could take a 20% stake in PT Portugal as part of Altice's acquisition of the Portuguese assets of Oi, reported Jornal de Negocios. The Lusophone business paper cited a report in Expresso, which in turn quoted sources close to the process as saying a PT meeting today (6 January) could see an accord signed to give PT a one-fifth holding in Altice's bid vehicle for PT Portugal.
Altice has already indicated it could give Portuguese investors a 20% stake PT Portugal when it concludes its EUR 7.4bn acquisition from Oi. PT had given up its stake in PT Portugal under the terms of the PT-Oi tie-up.
PT shareholders vote on 12 January to approve Oi's disposal of PT Portugal to Altice.
Source Jornal de Negocios