Santos bid to derail Altice Oi-PT
November 10, 2014
Isabel dos Santos, the daughter of long-serving Angolan president José Eduardo dos Santos, and a major shareholder in Portuguese pay-TV service provider Nos, has bid €1.211 billion for Portugal Telecom SGPS, the holding company that owns a minority stake in the merged Oi-Portugal Telecom.
The bid follows Numericable-owner Altice’s €7 billion bid for the Portuguese assets of Oi/Portugal Telecom last week. Portugal Telecom SGPS owns a 37 per cent stake in Oi, the Brazilian telco that is still in the process of implementing a troubled merger with Portugal Telecom. Dos Santos said the merger between the Portuguese and Brazilian telcos was supported but said that its bid could delay the process. Altice intends to reverse the merger between Portugal Telecom and Oi.