Portugal Telecom’s shareholders have approved the sale of its Portuguese assets to Altice.

The deal, which was agreed in December 2014, is worth €7.4 billion and will greatly strengthen Altice’s presence in Portugal, where it already lists to operators Cabovisão and Oni among its assets.

The Brazilian telco Oi, which is disposing of Portugal Telecom’s assets, now lists Portugal Telecom as a 25.6% shareholder.