Oi says several parties - including Altice - interested in PT

Oi says several parties – including Altice – interested in PT

14 OCT 2014

Brazilian operator Oi said in a statement that its financial adviser Banco BTG Pactual has received inquiries from “several interested parties (including Altice)” with an eye on a bid for Portugal Telecom, or its non-strategic assets.

However, the Brazilian operator has so far not received an actual bid for Portugal Telecom, nor has Oi decided if it wants to sell the Portuguese operator.

It was reported last week that Altice had expressed interest in PT, and that the French company wanted to enter into exclusive negotiations. However, the interest of other parties, albeit unnamed, in Portugal Telecom, in addition to Altice, adds several new scenarios.

Oi’s statement was made in response to a request from Brazil’s financial regulator following a recent media report about negotiations over Portugal Telecom. The regulator had set a 13 October deadline for the response.

Last week Oi CEO, Zeinal Bava, resigned his post, in a major blow for the proposed merger.

It has been reported that Banco BTG Pactual, Oi’s investment bank, is also advising its client about a possible move for Telecom Italia’s stake in TIM Participacoes, a local rival in the Brazilian market.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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