French cable and telecommunications provider Altice SA is set to make a firm offer to acquire PT Portugal from its Brazilian owner, the Wall street Journal reported citing people familiar with the matter. PT Portugal reportedly could fetch between 6 billion euros and 7 billion euros. Altice's offer would be all in cash.
The report indicated that private equity firms Apax Partners LLP and Bain Capital LLC have also made bids for PT Portugal, which is controlled by Brazil's Oi SA.
Altice has been in talks with Oi and its shareholders over the past weeks and has been doing due diligence in order to prepare a firm offer for PT Portugal, the report said quoting the people.
The reported said that a deal could be announced in the next few weeks, as Oi is eager to unload PT Portugal to raise funding for other acquisitions.
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