PT Portugal suitor Altice mandates advisors for bid
Altice has hired lawyers and financial advisors for its bid to acquire PT Portugal from Oi, the Brazilian telco, reported Diario Economico.
Sources familiar with the situation told the business paper that Altice has hired Uria Menendez Proenca de Carvalho as legal advisors for its PT Portugal bid. Perella Weinberg, Morgan Stanley, Goldman Sachs, BTG Pactual are among financial advisors mandated by Altice, the report said.
Meanwhile, Diario de Noticias reported that Oi has lined up various meetings this week with Portugal Telecom (PT) shareholders including Ongoing, which owns 10% of PT via its holding company RSH.
Elsewhere, Expresso cited sources close to the situation as saying Altice has yet to make a concrete proposal for PT Portugal but wants to move swiftly to wrap up a deal when Oi decides to sell its Portuguese assets, which are reportedly worth around EUR 6.7bn. Altice, however, views this evaluation of PT Portugal as too high, the same sources said.
Source Diario Economico, Diario de Noticias, Expresso