French companies are not averse to spending large amounts of money on securing Portuguese assets.
In recent years Altice paid €7.4 billion for Portugal Telecom, Vinci Group paid €3 billion for State-owned airports operator ANA and Cofidis paid €400 million for Banif Mais.
Portugal remains a target for the French who are likely to make new investments in the short and medium term, according to senior officials in the French and Portuguese governments.
The French Secretary of State for Foreign Trade French, Matthias Fekl, said that there are several large French companies looking at Portugal for investment opportunities, commenting that “the French Government will monitor all projects that will strengthen the French presence in Portugal."
Portugal’s Economy Minister, Manuel Caldeira Cabral, added, "The French Secretary of State spoke to me of new investments in Portugal and the possibility of new investments by French companies.
“While not going into detail, the minister stressed that the investment may take place in different areas. The most interesting thing is the diverse sectors in which the French consider investing with some following the path of initial investments."
Cabral stressed that France "has been one of the major investors in Portugal. French companies are investing and creating quality jobs in Portugal in the areas of research, engineering and shared services."
