Apax, Bain submit offer for Portugal Telecom assets-sources

LISBON (Reuters) - Private equity funds Bain Capital and Apax Partners, together with Portuguese conglomerate Semapa , submitted on Friday a firm offer to buy Portugal Telecom's operations in Portugal from Brazil's Oi , three sources said. 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)