April 30, 2019 / 4:35 PM / 5 months ago

Altice Portugal has 10 possible bidders for fiber network

FILE PHOTO: Alexandre Fonseca, CEO of Altice Portugal, answers the questions after the first demonstration of the technology 5G in Lisbon, Portugal June 4, 2018. REUTERS/Rafael Marchante/File Photo

LISBON (Reuters) - Telecoms firm Altice has about 10 possible bidders for its Portuguese fiber network and is nearing a decision on the sale, Altice Portugal chief executive Alexandre Fonseca said.

Fonseca told reporters on Tuesday that the potential buyers, which include investment and infrastructure funds, were from Europe and the United States, without naming any of them.

“There are about 10 potential buyers with a more concrete and analyzed level of interest. The phase of analysis is nearly complete,” Fonseca added.

The Altice fiber network business serves 4.5 million Portuguese homes and aims to cover all of the country, or 5.3 million homes, by next year.

Earlier this year Fonseca described it as “valuable” but did not estimate a sale price.

Reporting by Sergio Goncalves; Writing by Catarina Demony; Editing by Alexander Smith

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