Operator group France Telecom has announced that it could sell its shares in Portuguese operator Sonaecom and has entered into a “put and call option” agreement with local conglomerate Sonae, the majority shareholder in the firm.
Portugal Telecom, Sonaecom and Vodafone Portugal have each won spectrum in Portugal’s LTE spectrum auction. Portugal Telecom and Sonaecom’s mobile phone units, TMN and Optimus, respectively, both announced that they had placed winning bids in three frequency bands. They each paid a total of €113 million for nine blocks; the minimum price set by the Portuguese telecommunications regulator, CMVM.
Portuguese operator Sonaecom said Wednesday that it has offloaded all its shares – a total of just over 1 per cent – in larger rival Portugal Telecom. The move comes after shareholders in Portugal Telecom yet again turned down an Eur11.8bn hostile takeover bid from smaller rival Sonaecom last week. Portugal Telecom has fended off […]
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