The offer is fully financed by banks, the sources said. One of the sources said the bid valued PT Portugal's assets at 7.075 billion euros - a figure Oi has previously given on the offer.

Oi has said it wants to sell Portugal Telecom's business in order to reduce debts. Oi ended up with the assets through a merger of the two companies.

(Reporting By Sergio Goncalves, writing by Axel Bugge editing by Jane Merriman)

Stocks treated in this article : PORTUGAL TELECOM, SEMAPA, ALTICE