LISBON, Nov 28 (Reuters) - Private equity funds Bain Capital and Apax Partners, together with Portuguese conglomerate Semapa , submitted on Friday a firm offer to buy Portugal Telecom’s operations in Portugal from Brazil’s Oi, three sources said.
The offer is fully financed by banks, the sources said. One of the sources said the bid valued PT Portugal’s assets at 7.075 billion euros - a figure Oi has previously given on the offer.
Oi has said it wants to sell Portugal Telecom’s business in order to reduce debts. Oi ended up with the assets through a merger of the two companies.
Reporting By Sergio Goncalves, writing by Axel Bugge editing by Jane Merriman