Saudi Telecom Among Suitors Vying for Altice Portugal
- Drahi’s company is selling assets as empire grapples with debt
- Other phone companies, buyout firms also looking at unit
Altice offices in Lisbon, Portugal.
Photographer: Zed Jameson/BloombergThis article is for subscribers only.
Saudi Telecom Co. is among suitors that have been studying a potential acquisition of the Portuguese operations of billionaire Patrick Drahi’s Altice empire, according to people with knowledge of the matter, as the state-owned Middle Eastern carrier pushes to further expand in Europe.
Other phone companies and some buyout funds have also been evaluating the business, which operates under the MEO brand, and could submit initial bids before Christmas, one of the people said. Potential bidders could value the unit at around €7 billion ($7.5 billion) to €9.5 billion, said the people.