December 10, 2014 | The French-Israeli cable mogul Patrick Drahi’s telecom group Altice acquired the Portuguese telecommunications company Oi for $9.1 billion. The deal includes Oi’s assets in Hungary and takes into consideration €500 million in future profit and cash generation targets. Altice secured the deal after beating out bids from private equity firms Apax Partners and Bain Capital. In October of last year Portugal Telecom and Oi merged their operations to form a new Brazil-based company with over 100 million subscribers. Altice Group is a multinational cable and telecommunications company with a presence in France, Israel, Belgium and Luxembourg, Portugal, French West Indies / Indian Ocean Area and Dominican Republic and Switzerland.
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