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26 June 2017
| Alan Burkitt-Gray
Altice, which owns Portuguese incumbent PT Telecom, is looking to buy Media Capital, a company that owns a number of Portuguese-language TV and radio channels.
The company said last night that it is "in exploratory
discussions" about buying Media Capital from Spanish investor
Promotora de Informaciones (Prisa), which owns 94% of the
company. It made the statement after a request by the
Portuguese Securities Market Commission –
Comissão do Mercado de Valores Mobiliários.
The news comes just days after Altice raised $1.9 billion in an
initial public offering of Altice USA, which owns its US cable
TV businesses, Cablevision and Suddenlink. That IPO valued
Altice US at $22 billion.
Altice did not say how much it was offering for Media Capital,
but weekend reports – without mentioning Altice
– said that Prisa’s chairman, Juan Luis
Cebrián, was asking for €450 million.
Altice described Media Capital as "a Portuguese media group
with leadership positions in TV broadcasting, audiovisual
production, radio, digital, music and entertainment". In fact
it TVI, one of the the leading Portuguese free-to-air TV
broadcasting channels, the news channel TVI24 and a number of
other channels. It is also the second largest radio group in