Portugal’s Competition Authority has authorised the purchase of telecommunications operator Oni by Altice, the owner of Portuguese cable TV operator, Cabovisão.
In its ruling, the regulator decided “not to oppose the deal”, announced on June 3rd, as it believes that it does not create competition problems. Previously, Luxembourg-based Altice announced plans to purchase Winreason, the holding that owns Oni. Winreason has so far been controlled by investment fund Riverside with a 65.4 per cent share, while the remaining 34.6 per cent were in the hands of the Champalimaud family.
According to the director general of Cabovisão, João Zúquete da Silva, the goal is “to become the second telecommunications operator in Portugal in the short or medium term”. Cabovisão plans to invest €150 million over three years to boost its presence across Portugal, a figure that could be increased, and has also announced its intention to launch a MVNO by the end of the year.
Although the value of the deal was not announced, market experts estimate it is worth between €80 million and €90 million.