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


The Government reached an agreement with the private companies that integrate the management company of the Integrated System of the Emergency and Security Networks of Portugal (SIRESP), confirmed to the Economic Newspaper sources connected to the process, this Thursday, June 13. The Portuguese state will hold 100% of SIRESP S.A from December 1, and the agreement provides for the payment of a total of seven million euros to Altice and Motorola.

The agreement was reached on Wednesday night, June 12, with the Government being able to successfully carry out its claims vis-à-vis Altice Portugal and Motorola Solutions Portugal – private shareholders of SIRESP – and has already been confirmed at a conference by the Executive, following the meeting of the Council of Ministers.

The State will pay 5.5 million euros to Altice Portugal and 1.5 million euros to Motorola Solutions Portugal, in order to transfer the totality of the private participations to the operator of the national emergency and safety network.

Until the agreement was reached, the shareholder structure of SIRESP SA, the operator of the national emergency and safety network, consisted of a majority stake of 52.1% of PT Móveis (owned by Altice Portugal), 33% of Parvalorem of the State) and 14.9% of Motorola Solutions.

Contacted by Jornal Económico, official source of Altice Portugal declined to comment.

Last night, the Deputy Minister of Economy, Pedro Siza Vieira, had guaranteed that the agreement would come to fruition, considering that the State would pay "the fair value that results from the company's books."

Last week, on June 6, Prime Minister António Costa said in the biweekly debate that the agreement was pending legal details.

In May, the Government had admitted the possibility of nationalizing the SIRESP, however, the agreement concluded only constitutes a transfer of shares of private companies to the state.

The news of this agreement for the transfer of the totality of the private participations in SIRESP S.A to the State had been advanced this morning by the newspaper "i".



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