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Altice closes Portugal Telecom buyout

Portugal TelecomAltice, the owner of French cable and telecoms giant Numericable-SFR, has closed its €7.4 billion acquisition of Portugal Telecom. 

Altice confirmed the completion of the deal in a statement yesterday, after the European Commission gave a green light to the deal in April – on the condition that the cable and telecom investor sells its existing assets in the country’s, cable operator Cabovisão and business service provider ONI.

Portugal Telecom’s shareholders approved the sale of the company’s domestic assets to Altice back in January.