Altice Europe has failed to reach an agreement with private equity funds for the sale of its Portuguese operation.
As a result, reports Reuters, it has dropped plans to dispose of the asset.
Quoting unnamed sources, it adds that the non-binding bids by EQT and CVC Capital were well below its valuation of €7 billion. Indeed, the highest bid came in at just over €6 billion and included a premium based on Altice Portugal’s market dominance.
Reuters also says that one of the reasons the bids failed to reach the valuation was because Altice Portugal had partly sold off some of its infrastructure over the last few years.
Broadband TV News notes that Altice Portugal ended Q3 2021 with 5,910,000 homes passed and a total of 1,204,000 fibre and 1,639,000 B2C fixed customers.
Its revenues in the first nine months of the year amounted to €1,684 million, up from €1,560.6 million in the same period in 2020.
