The proposal put forward by Antonio Horta Osorio, who has joined forces with North American fund Warburg Pincus, in a bid for Altice Portugal, wants to retain the entire Portuguese operation and restore the Portuguese Telecom brand and name. The news was previously announced on Friday passWhich makes it clear that the goal is to recover the operator’s Portuguese matrix.
Warburg Pincus wants to keep the Covilhä data centre, which was up for sale and already had a takeover bid from the Horizon fund, by Sergio Monteiro. As part of Portugal Telecom’s brand recovery, the project aims to deepen investment in Altice Labs (formerly PT Inovação) with the aim of boosting the Portuguese company’s exports.
Expresso also explains that Antonio Horta Osorio is more than just an advisor to Warburg Pincus, but will be part of the consortium. The information was actually provided last Wednesday by sources familiar with the operation to the Financial Times, but the former banker remained silent. On the table will be an offer of more than six billion euros, a value slightly lower than the valuation that Patrick Drahi, the majority shareholder of the Altice Group, explains Negócios, in this Friday edition.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
