The French cable and telecommunications group, Altice, has struck a deal to move into the Portuguese market.<br /><br />Altice has agreed to buy the Portuguese assets of Portugal Telecom from Brazil’s Oi for 4.7 billion euros.<br />The two firms have been holding exclusive negotiations<br /><br />It is the latest high-profile acquisition for the firm founded by billionaire Patrick Drahi which already owns Portuguese cable businesses Cabovisao and Oni. <br /><br />The French company said late last week that it would form a strategic alliance with CTT, the Portuguese postal operator, if it were to win the battle for Portugal Telecom. <br /><br />Altice’s acquisition of PT would enable it to drive consolidation in the market, but it may have to make disposals to get regulatory approval.
