LISBON, Oct 9 (Reuters) - Altice wants to enter into exclusive talks with Oi to buy its Portuguese telecommunications operation, sources familiar with the process said on Thursday.
Altice, which is backed by French billionaire Patrick Drahi, believes it can move quickly toward a deal, which is likely to value the Portugal business between 6 and 6.5 billion euros, according to the people.
The two sides have been in “high-level” talks in recent weeks and have already discussed issues including price and proposed deal structures, as well as exchanged information on the business.
But there is complexity in the governance structure of Oi and Altice is so far only talking to Brazilian and Portuguese shareholders of the group and not to the management board.
The sources said the price has been discussed.
Reporting By Sergio Goncalves and Leila Abboud, writing by Axel Bugge