French telecoms giant Altice, offers €7 billion for PT

Itemising the ‘deal’ put forward by French telecommunications giant Altice, Dinheiro Vivo website claims the multinational group wants to buy PT Portugal at “sale price”, offering just over €7 billion, which is effectively “only a little more than its €6.5 billion of debt”. Not included in the deal are PT’s loss-making operations in Africa and Timor, and the €900 million “loan” to failed Espírito Santo group subsidiary Rioforte.