Altice has completed its purchase of Portugal Telecom, paying Brazil’s Oi €7.4 billion.
The French-owned vehicle of businessman Patrick Drahi made its initial bid at the beginning of November.
Altice owns the cable operators Cabovisão and Oni and Portugal and recently bought France’s SFR as part of a plan to combine it with Numéricãble.
The purchase unravels the merger between Portugal Telecom and Oi that began in October 2013 with a view to compete with Spanish rivals such as Telefonica, but never completed. With Altice’s experience in mobile telecoms a mobile offer is sure to follow.