MEO, a subsidiary of Altice Europe N.V., has signed an agreement with Morgan Stanley Infrastructure Partners to create a nationwide fiber wholesaler in Portugal. MEO will sell a minority equity stake of 49.99 percent in Altice Portugal FTTH based on an enterprise value of €4.63 billion ($5.1 billion).
Altice Portugal FTTH is by far the largest FTTH wholesaler in Portugal with c.4.0 million FTTH homes passed by year-end 2019. Altice Portugal FTTH comprises of all MEO’s fiber assets in Portugal including FTTH and dark fiber.
Altice Portugal FTTH will sell wholesale services to all operators at the same financial terms. MEO will sell technical services to Altice Portugal FTTH for the construction, the subscriber connection and the maintenance of its fiber network.
