Mobile devices and terrestrial phone handsets sit on display inside a Portugal Telecom SGPS SA mobile communications store in Lisbon
Terra Peregrin – Participações SGPS, owned by Angolan businesswoman Isabel dos Santos, the daughter of Angola’s president, has launched a tender offer for the entire share capital of Portugal Telecom (PT) SGPS, in an announcement filed with the market regulator.
According to the statement issued by the Portuguese security markets regulator CMVM, the company intends to pay 1.35 euros for each of the more than 896 million shares of the Portuguese group.
In the preliminary announcement of the offer, Terra Peregrin says it may withdraw PT SGPS from the stock market if it takes at least a 90 percent share of the company.
PT SGPS’s only assets are now a 25 percent stake in Brazilian operator Oi and a loan to Rioforte, of the Espírito Santo group, of slightly less than 900 million euros.
A week ago, French group Altice made a proposal to pay 7.025 billion for PT Portugal, excluding its business in Africa, the debt to Rioforte and financial vehicles. MDT/Macauhub
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