stc mulls acquisition of Altice Portugal: Report

11/12/2023 Argaam
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stc, among other suitors, are studying the potential acquisition of Altice Portugal, owned by billionaire Patrick Drahi, Bloomberg reported today, Dec. 11, citing unnamed sources close to the matter.

 

Other telecom operators and some buyout funds are also evaluating the business, which operates under the “MEO” brand, and could submit initial bids before Christmas, one of the sources said. 

 

Potential bidders could value the unit at around €7 billion ($7.5 billion) to €9.5 billion.

 

In September, the Saudi telecom giant closed the acquisition of a 9.9% stake in Spain-based Telefonica for SAR 8.5 billion (€2.1 billion), Argaam earlier reported.

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