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Altice Sheds Cabovisao, ONI

In an expected move, Patrick Drahi's Altice Group said it has inked a deal to sell Portuguese assets Cabovisao and ONI to Apax France, a private equity fund, for an undisclosed sum.

That agreement comes after the European Commission required Altice to shed those assets as a condition of its €7.4bn acquisition of Portugal Telecom from Brazil-based Oi.

Altice said the deal is subject to regulatory review by the EC and Portuguese authorities. Perella Weinberg Partners advised Altice on the transaction.

The asset sale also comes amid Altice’s increasing interest in building up in the U.S., a strategy that’s being led off by Altice's proposed $9.1 billion acquisition of Suddenlink Communications.

Michel Combes, the former CEO of Alcatel-Lucent, was recently named COO of Altice Group and as chairman of the board of Numericable-SFR.