Altice began preparations for the sale of the old Portugal Telecom

Six years after buying Portugal Telecom, Altice Europe, a group controlled by French-Israeli billionaire Patrick Drahi, is preparing to sell what is still Portugal’s largest telecom operator. The process is at a very early stage, but Expresso has confirmed through several knowledgeable business sources that Altice has already commissioned an international investment bank to test the sale of what was once the most valuable company on the Portuguese stock exchange.

Patrick Drahi is under pressure from debt, which remains very high and has grown again, so that the businessman can withdraw Altice Europa from the Amsterdam stock exchange. Arguing that the group needs to focus on a long-term strategy, capitalizing on the path of low interest rates, Drahi decided to take a step forward and regain 100% control of Altice Europe, the company that owns the French SFR, acquired in 2014 for 17 billion euros. and PT, which cost him 5.5 billion euros. The courage, realized in early 2021, will cost him around € 3 billion.

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