Altice offers 7b euros for Oi's Portuguese telecom assets

Paris

BILLIONAIRE Patrick Drahi, fresh from winning approval to acquire France's second-largest mobile-phone company, made a seven billion-euro (S$11.3 billion) offer to buy Oi SA's Portuguese telecommunications assets.

Altice SA, Mr Drahi's cable holding company, will finance the bid with cash and debt, and the purchase price includes 800 million euros that will depend on Portugal Telecom's future revenue and cash flow, Luxembourg-based Altice said on Sunday.