European Commission Approves Acquisition Of PT Portugal By Altice - Quick Facts

(RTTNews) - The European Commission has authorised the proposed acquisition of the Portuguese telecommunications operator PT Portugal (PT) by the multinational cable and telecommunications company Altice (ATCV.OB). The decision is conditional upon the divestment of Altice's current Portuguese businesses ONI and Cabovisão.

The Commission had concerns that the merger, as initially notified, would have reduced competition in a number of telecommunications markets in Portugal. In order to remove the concerns, Altice offered to sell its Portuguese subsidiaries Cabovisão and ONI.

The Commission has also rejected a request to refer the examination of the transaction to the Portuguese competition authority.