Vodafone nearing bid for Cabovisao?

23 Apr 2015

A report by Bloomberg puts the value of the up-for-sale Portuguese cableco Cabovisao at EUR300 million (USD322 million) after its parent Altice recently agreed to divest the asset alongside business telecoms provider ONI as a condition of its EUR7.4 billion purchase of PT Portugal (MEO). Quoting two anonymous sources with knowledge of talks between Altice and Cabovisao’s potential buyers, the report added that negotiations could go on for several months, while indicating that UK-based giant Vodafone Group is a frontrunner among the prospective suitors. Last month CommsUpdate reported that the CEO of Vodafone Portugal, Mario Vaz, confirmed that the company was considering the possible acquisition of Cabovisao, after Vodafone Group CEO Vittorio Colao said last year that the group wanted to gain cable assets in Portugal to augment its existing converged mobile, fixed broadband and landline services in the country. Luxembourg-based Altice bought Cabovisao from Canada’s Cogeco in Q1 2012, paying just EUR45 million.

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