Altice and Motorola satisfied with "completion of this long process" – The Economic Journal


Altice Portugal and Motorola Solutions Portugal announced this Thursday, June 13, in a joint position, their satisfaction with the agreement with the State for the transfer of their holdings in the operator of the Integrated System of Emergency and Security Networks of Portugal (SIRESP), SIRESP SA

"We are pleased to note the conclusion of this long process, especially in the face of a conclusion to the satisfaction of all parties involved," they said. SIRESP is owned 52.1% by PT Móveis (Altice Portugal) and 14.9% by Motorola Solutions, 33% of Parvalorem (State).

Once the agreement was concluded, the two companies declined to comment further, "in strict respect of the proceedings", except for any reason that "makes it imperative for reasons of force majeure" that they intervene.

At the beginning of Thursday afternoon, the government announced at a press conference that it had assured the State, for seven million euros, of the shares of SIRESP's private operators.

The decree-law, approved today in the Council of Ministers, "fully transfers to the public sphere" the functions related to "the management, operation, maintenance, modernization and expansion of the SIRESP network, as well as the business structure.

There is already an agreement with private parties. State acquires 100% of SIRESP for 7 million euros



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