Altis is in turmoil! The group wants to sell its Portuguese subsidiary Meo

Altis is in turmoil!  The group wants to sell its Portuguese subsidiary Meo


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Exclusive! Hit by multi-billion euro debt, Altice plans to separate from its Portuguese operator Meo in a bid to reduce its significant debt. Iliad, led by Xavier Neal, could be a potential buyer, but no formal negotiations have taken place yet. This sale could have a significant impact on the telecommunications landscape in Europe as Altice seeks to reorganize its assets and overcome its financial challenges.

Altice plans to sell its Portuguese operator Meo

Altice, the French telecommunications giant led by Patrick Drahi, has a problem Debts amounting to 60 billion eurosThis is mainly due to problems in Portugal, where allegations of fraud, corruption and money laundering have recently emerged. To reduce its financial debt, Altice is considering all possibilities, including… Selling its Portuguese assets, particularly Mio.

Mio he is the The main operator in the country, is active in the mobile phone, landline, Internet access and pay TV markets. Altice had already tried to sell its Portuguese subsidiary in 2021, a sale that was unsuccessful due to a lack of high enough offers. this time, Altice aims to raise up to €10 billionDespite the recent accusations of corruption weighing on the company.

Xavier Niel is in first place to buy Meo

Among the potential buyers Xavier Neill and his Iliad collectionAlthough official discussions have not begun yet. Free’s parent company recently said Her desire to seize any opportunity in France or internationallyThe acquisition of Meo will allow it to continue its growth abroad. Currently, Iliad Group is ranked as the sixth largest telecom operator in Europe, but it aspires to reach the top three in this ranking.

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This announcement comes in a difficult context for the Altice Group, after the recent statements of its president, who raised the possibility of this Also sell BFM TV and RMC channels.

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About the Author: Irene Alves

"Bacon ninja. Guru do álcool. Explorador orgulhoso. Ávido entusiasta da cultura pop."

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