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Tag: portugal
Angolan, French bids target Portugal Telecom
2014-11-10 13:07:40| IT Services - Topix.net
A battle has started for control of Portugal Telecom, with an Angolan takeover bid countering a French company's offer. The Lisbon stock exchange on Monday suspended trading in shares of Portugal Telecom SGPS SA after a 1.2 billion euro bid from Terra Peregrin, a Lisbon-based company wholly owned by Isabel dos Santos, a businesswoman and daughter of longtime Angolan President Jose Eduardo dos Santos.
Tags: french
target
portugal
telecom
Nos shareholder makes offer for Portugal Telecom
2014-11-10 09:20:00| Telecompaper Headlines
(Telecompaper) Isabel dos Santos, the daughter of Angola's president, has launched a takeover bid for Portugal Telecom. In a statement published by Portugal's stock market regulator on 09 November, Terra Peregrin, a Portuguese holding company controlled by Dos Santos, said the offer was for EUR 1.35 a share, a premium of 11 percent on Portugal Telecom's latest share price. The bid, which is conditional on acquiring more than 50 percent of Portugal Telecom's shares, comes a week after Altice launched a EUR 7 billion offer to buy the Portuguese assets of Oi, Portugal Telecom's merger partner. Dos Santos's offer is for the shares of Portugal Telecom SGPS, which owns a 37 percent stake in Oi. The Brazilian operator in turn controls Portugal Telecom's operations in Portugal. Terra Peregrin said it supported a planned merger between Portugal Telecom and Oi, but added that the success of its offer would involve some delays in the merger operation, the Financial Times reports. Dos Santos is also leading shareholder in Nos, PT's main competitor in Portugal. The Terra Peregrin offer does not involve the other shareholders in Nos.
Tags: nos
offer
makes
portugal
Dos Santos joins Portugal Telecom race
2014-11-10 01:00:00| Total Telecom industry news
Firm controlled by Isabel dos Santos makes a bid for Portuguese incumbent.
Tags: dos
portugal
race
telecom
Portugal Telecom attracts PE interest
2014-11-06 01:00:00| Total Telecom industry news
Apax reportedly preparing 7 billion bid for Oi's Portuguese assets.
Tags: interest
portugal
telecom
attracts
Altice bids over EUR 7 billion for PT Portugal
2014-11-03 08:30:00| Telecompaper Headlines
(Telecompaper) Altice has made a binding offer to acquire the Portuguese assets of Portugal Telecom from Oi for EUR 7.025 billion. The offer excludes PT's assets in Africa and the Rio Forte debt securities, Oi treasury shares and Portugal Telecom financing companies. Altice said the bid gives PT Portugal an enterprise value of EUR 7.025 billion on a cash- and debt-free basis. It includes a EUR 400 million earn-out related to the future revenue generation of Portugal Telecom and a EUR 400 million earn-out based on future operating free cash flow (EBITDA less capex). If accepted, the bid would be financed by new debt and existing cash from Altice. Altice is already active in Portugal through the cable operator Cabovisao. Oi has been looking to sell the PT assets in order to reduce debt and give it the financial flexibility to participate in consolidation underway in its home market Brazil.
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