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Saudi Telecom Submitted Highest Bid for Altice Portugal
Saudi Telecom Co. has emerged as the highest bidder for Altice’s Portuguese business, a key divestment for tycoon Patrick Drahi as he seeks to pare debt at his telecom empire, people with knowledge of the matter said.
Saudi Telecom Co. has emerged as the highest bidder for Altice’s Portuguese business, a key divestment for tycoon Patrick Drahi as he seeks to pare debt at his telecom empire, people with knowledge of the matter said. The Middle Eastern carrier submitted the highest binding offer, putting it in pole position in the race to acquire the business, the people said. Altice has now asked the two other remaining suitors to revise their proposals, according to the people, who asked not to be identified because the information is private.
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