Altice announces it has made an offer for Portugal Telecom
(Thomson Reuters ONE) -
Altice announces it has made an offer for Portugal Telecom
November 2, 2014 - Altice S.A. (Euronext: ATC) today announces that it has made
a binding, fully financed offer to purchase the Portuguese assets
of Portugal Telecom from Oi. These assets comprise the existing business of
Portugal Telecom outside of Africa and excludes Portugal Telecom's Rio Forte
debt securities, Oi treasury shares and Portugal Telecom financing vehicles.
The offer submitted by Altice values these assets at an enterprise value of
?7.025 billion on a cash and debt free basis, which includes a ?400 million
earn-out related to the future revenue generation of Portugal Telecom and a ?400
million earn-out related to the future generation of Operating Free Cash Flow
(EBITDA less Capex).
If this offer is accepted, the transaction net of financial debt and other
purchase price adjustments would be financed by new debt and existing cash from
Altice.
Contacts
Investor Relations
Richard Williams: +44 (0)7946 348939 / richard.williams(at)altice.net
Media
Arthur Dreyfuss: +41 (0)79 946 49 31 / arthur.dreyfuss(at)altice.net
About Altice
Founded by telecom entrepreneur, Patrick Drahi, Altice is a multinational cable
and telecommunications company with presence in three regions - Western Europe
(comprising France, Belgium, Luxembourg, Portugal and Switzerland), Israel and
the Overseas Territories (currently comprising the French Caribbean and the
Indian Ocean regions and the Dominican Republic). We provide cable based
services (high quality pay television, fast broadband Internet and fixed line
telephony) and, in certain countries, mobile telephony services to residential
and corporate customers.
Altice (ATC) is listed on NYSE Euronext Amsterdam, ISIN LU1014539529.
Disclaimer
Matters discussed in this release may constitute or include forward-looking
statements. These forward-looking statements reflect, at the time made, Altice's
beliefs, intentions and current expectations concerning, among other things,
Altice's and Portugal Telecom's results of operations, financial condition,
liquidity, prospects, growth and strategies. No representation is made that any
of these forward-looking statements or forecasts will come to pass or that any
forecast result will be achieved nor does Altice assume any obligation
to supplement, amend, update or revise any such statements or any opinion
expressed to reflect actual results, changes in assumptions or in Altice's
expectations, or changes in factors affecting these statements.
Consequently, you are cautioned not to place any undue influence on any forward-
looking statement.
The information contained in this press release does not constitute a prospectus
or any other offering document, nor does it constitute or form part of any
invitation or offer to purchase, sell or subscribe for, or any solicitation of
any such offer to purchase, sell or subscribe for, any securities of Altice or
any other company or any of its or their affiliates.
2014-11-02 Press release Portugal:
http://hugin.info/156399/R/1867820/656380.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Altice SA via GlobeNewswire
[HUG#1867820]
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2014 - 00:07 Uhr
Sprache: Deutsch
News-ID 348865
Anzahl Zeichen: 4054
contact information:
Town:
Luxembourg
Kategorie:
Business News
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