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The Antonio Horta Osorio Fund and the Warburg Pincus Fund are offering $6 billion for Altice assets

The Antonio Horta Osorio Fund and the Warburg Pincus Fund are offering $6 billion for Altice assets

The news was published by FT. Private equity fund Warburg Pincus has joined António Horta-Osório in a €6 billion bid for Altice Portugal’s telecommunications assets. Non-binding proposals continue to arrive and the deadline is now until January.

Private equity fund Warburg Pincus has joined António Horta-Osório in a €6 billion bid for Altice Portugal’s telecommunications assets, according to the Financial Times.

The British newspaper says that the Warburg Pincus fund has joined former Credit Suisse president Antonio Horta Osorio in an offer worth more than 6 billion euros to buy the Portuguese telecommunications assets of Altice, and cites people familiar with the matter.

Horta Osorio, the former chief executive of Lloyds Banking Group, who left Credit Suisse last year after losing board support following violations of coronavirus quarantine rules, is an adviser to Warburg in the process.

Apparently, this is one of three private equity funds vying to buy Altice Portugal, the Financial Times writes.

The 59-year-old Portuguese manager has held advisory roles at Italian credit institution Mediobanca and private equity firm Cerberus, but has remained discreet.

Antonio Horta-Osorio could play a role in the deal if it is completed, the Financial Times writes.

The Portuguese banker led Santander’s Portuguese business in the early 2000s, when Portugal Telecom, later acquired by Altice, was a major client, according to the Financial Times.

Altice is receiving offers for its telecommunications business in Portugal until the beginning of January, after receiving interest from several players in the sector and private equity funds, including the Apollo Group in North America, according to people familiar with the deal. According to the Financial Times newspaper.

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Non-binding offers to buy out the MEO owner continue to arrive and may continue to arrive until the beginning of January, according to the news.

Horta-Osorio, Warburg, Altice and Apollo declined to comment to the Financial Times.