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Sale of PT Portugal's stake to Altice becomes effective
2015-06-02 22:41:00| Telecompaper Headlines
(Telecompaper) Brazilian operator Oi has announced that the sale by Oi of all shares issued by PT Portugal to Altice Portugal became effective on 02 June. Altice Portugal disbursed the total amount of EUR 5.789 billion for the acquisition of PT Portugal, of which EUR 4.920 billion were paid in cash to Oi and EUR 869 million were allocated to immediately repay outstanding indebtedness of PT Portugal in euros. The final purchase price is subject to post-closing adjustments to be calculated within the next months as a result of changes in the cash, indebtedness and working capital positions on the closing date. French telecom holding company Altice said had now closed the EUR 7.4 billion acquisition of Portugal Telecom's assets in Portugal.
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Category:Telecommunications