Orange Denies Interest in Acquiring Portugal Telecom from Altice
January 23 2018 - 6:16AM
Dow Jones News
By Anthony Shevlin
French telecommunications company Orange (ORA.FR) on Tuesday
denied that it is interested in acquiring Portugal Telecom should
Altice NV (ATC.AE) put the subsidiary up for sale.
"There is no plan concerning Portugal Telecom. It isn't on our
agenda," said a spokesperson for Orange when contacted by
telephone.
According to French newspaper Le Monde, Orange "could be
interested" in acquiring Portugal Telecom if Altice president and
controlling shareholder Patrick Drahi were to put it up for sale.
Portugal Telecom is valued at just over 7 billion euros ($8.57
billion).
While Altice plans to sell non-strategic assets to reduce its
debt, management have reiterated in recent weeks that they consider
Portugal Telecom to be an essential asset, said Le Monde.
This story was translated in whole or in part from a
French-language version initially published by L'Agefi, a partner
of Dow Jones & Co.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
January 23, 2018 06:01 ET (11:01 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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