PARIS, Nov 28 (Reuters) - Telecoms group Altice said it would partner with CTT, Portugal’s postal service, on projects in the event that it won a bidding war with private equity funds to buy the country’s incumbent telecom operator.
Altice is the holding company of billionaire cable entrepreneur Patrick Drahi, and it owns communications companies in France, Israel, and the Dominican Republic.
“Altice and CTT have agreed to work closely together to identify and develop areas of co-operation,” Altice said in a statement on Friday.
Private equity funds Apax and Bain have also bid for Portugal Telecom’s assets, which are now owned by Brazil’s largest fixed phone provider Oi after a 2013 merger.
The funds had pitched the CTT postal service on teaming up with them for a joint bid, but were rebuffed, said a person close to the situation.
Reporting by Leila Abboud; Editing by Geert De Clercq