Meo CEO says focus is execution, not a potential sale

Meo chief executive Ana Figueiredo said in an interview with ECO that the Portuguese telecoms operator is focused on executing its strategy rather than on any potential sale, a recurring issue around owner Patrick Drahi’s Altice group that matters for investors and the wider telecoms market in Portugal. “Shareholder decisions belong to the shareholder,” she said, adding that management is working to make the company more operationally robust, competitive and financially solid.

Figueiredo said Meo had invested €1.8 billion over the past four years and that she had “never felt constrained” in carrying out the strategic plan, despite repeated market speculation over a sale. If the company creates value, she said, that value serves both the current shareholder and any future one. Asked how much Meo is worth, she declined to give a figure, saying it is worth “what someone is willing to pay” for what she described as a unique asset in Portugal.

She also argued that both the European and Portuguese telecoms markets are too fragmented to sustain investment attractiveness, and said operators need a different regulatory framework if consolidation is to happen. Figueiredo said the sector’s message to Brussels is clear: “Let us consolidate internally.” She added that recent 5G investment across the sector had been financed through asset sales rather than margin generation, raising questions over how the next wave of investment will be funded.

On network security rules, Figueiredo said Meo is complying with Portugal’s decision to replace equipment from suppliers classified as high-risk vendors, while maintaining that the company does not see a security risk in the components covered by that decision. She said Meo is seeking an extension to the deadline for the swap and confirmed that the company is claiming about €81 million from the state to cover equipment replacement and related costs.

Originally published at Eco.pt