Altice hogs top tier banks in Portugal Telecom bidding war

Portugal Telecom 230x150
By Ross Lancaster
13 Nov 2014

Apax and Bain Capital made their move for Portugal Telecom’s Portuguese assets this week, but rival bidder Altice is more than ready for its challenger, having signed the banks behind its bid on an exclusive basis some weeks ago.

Top guns Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan and Morgan Stanley are all ready to arrange financing for Altice’s offer, which is likely to include a dollar bond.

Sources say that exclusively signing that top tier of high yield banks was a deliberate ploy by Altice. ...

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