Altice: “Portuguese Government doesn’t grasp the importance” of their investments

  • ECO News
  • 20 July 2017

Armando Pereira, co-founder of Altice, criticized the Portuguese Government for not acknowledging the importance of the company's investments in Portugal; however, he states the company will not stop.

Armando Pereira, co-founder of Altice. Henrique Casinhas/ECO

Armando Pereira assured this Thursday that Altice’s investments in Portugal will continue. The co-founder of the French company criticized the Portuguese Executive for not acknowledging the importance of the company’s investments in Portugal — such as the purchase of Media Capital, announced last Friday.

“Many times, the Portuguese Government does not grasp that importance. But we are not political. We are industrial and we only care about what matters: go through with a project and provide jobs for the Portuguese“, stated Armando Pereira. The co-founder of Altice also stated he takes a lot of “pleasure” in accomplishing so many businesses in Portugal.

“Even if sometimes we are told: ‘why did you come here, they do not want us, they do not like us’, we will not stop“, stated Armando Pereira, Portuguese businessman. Michel Combes, CEO of Altice, had previously stated the company is in Portugal not to “do politics”, but rather to “present a great project for the country”.

Last Friday, on July 14th, the French group announced it reached an agreement with Prisa to acquire Media Capital for 440 million euros, after a few weeks of speculation.

Analysts from BPI Research had previously mentioned the conclusion of the operation could face “political setbacks”, because of the comments the Portuguese PM made about Altice in the state of the Nation debate. The analysis also mentions the operation must be authorized by the Portuguese and Spanish authorities and market regulators.