Saudi company may buy Altice Portugal

 In Altice Portugal, News, Telecoms

Saudi Telecom is on the list of potential buyers of Altice Portugal as it looks to expand its business in Europe according to Bloomberg.

And according to the news agency there are other companies and funds interested in buying Altice Portugal.
Saudi Telecom bought 9.9% of Telefónica in September, becoming the main shareholder after having acquired a portfolio of telecoms towers from United Group for US$1.3Bn in April.
According to Bloomberg, potential offers could value Altice Portugal, which owns the MEO brand, at between €7Bn and €9.5Bn.
Patrick Drahi, founder and majority shareholder in Altice is selling off assets in the global company to reduce a €60Bn debt. When questioned by Bloomberg, Altice has declined to comment on the interest from the Saudi telecoms operator, which has also not commented.