PARIS/SAO PAULO: Telecoms group Altice SA has agreed to buy the Portuguese operations of Brazils Grupo Oi for about €7.4 billion (RM31.67 billion), it said in a statement on Sunday. œAltice announces that it has entered into an exclusivity agreement with Oi to agree the purchase of the Portuguese assets of Portugal Telecom, said the statement. The two sides will spend three weeks to finalise the acquisition and complete due diligence. Altice beat out a rival bid from private equity funds Apax and Bain, and will now add another country to its portfolio of cable and mobile companies in France, Israel, and the Dominican Republic, among others. Reuters
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