Warburg Pincus wants 100% of Altice Portugal

The US fund Warburg Pincus, together with Zeno Partners and Portuguese banker António Horta Osório who are in the race to buy Altice Portugal, say they only want the whole company lock, stock and barrel and not parcels of assets.

Despite a second round of offers, as stated by Bloomberg last week, the amount for the company being offered by the fund and Horta Osório is not likely to be revised according to the newspaper Negócios.
Warburg’s deal on the table is to buy Altice Portugal (owner of the brand MEO), its data centre in Covilhã, and 51% of Altice Fastfibre (Altice Labs).
The intention, according to Expresso in November, was to acquire all of Altice Portugal, responsible for 50% of Altice International’s world revenues, and resurrect the brand Portugal Telecom – the reason why Altice International is reluctant to sell 100% of the company.
The offer on the table was €6Bn, below the €8-10Bn amount wanted by Patrick Drahi to sell the Portuguese operation.