The consortium of Warburg Pincus and Zeno Partners in alliance with António Horta-Osório is out of the race for Altice Portugal. Saudi Telecom Company submitted the highest bid. But it may need Portuguese “ambassadors.”
The consortium that brings together the Warburg Pincus and Zeno Partners funds and which has the backing of Portuguese banker António Horta Osorio, is definitely out of the running to buy Altice Portugal, Jornal Economico has learned.
STC is gaining an advantage over other rivals, as Bloomberg recently reported, which is why Portuguese managers are starting to see moves to join forces with the Saudis in buying Altice Portugal, according to sources familiar with the process.
Saudi Telecom has made the highest bid to buy the Portuguese company Altice, Bloomberg revealed, and is already accelerating preparations to buy the Portuguese telecom operator. The Arab group finds the operator, which owns MEO and the assets of the former Portugal Telecom, particularly attractive due to the potential to “explore or enhance” synergies in the Iberian Peninsula, specifically with Telefónica, where the Saudis have a qualifying stake.
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