Apax Partners and Bain Capital Partners have made a joint offer of €7.075 billion for Oi’s Portuguese assets, known as PT Portugal.

Quoting the Brazilian company, Bloomberg reports that the enterprise value in the offer includes two sets of €400 million deferred payments, depending on how the assets, which do not include those in Africa, perform.

The bid does not include the €897 million in short-term debt that Rioforte defaulted on and has been held by PT SGPS.

The latter owns around 26% of Oi, which in turn owns 100% of what was PT Portugal, whose assets include Meo and Sapo.

However, industry sources have informed Broadband TV News that Bain and CVC Partners have now withdrawn their interest, leaving Apax alone.

Furthermore, the only firm offer being considered by Oi is one that was recently received from Altice.