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Tag: portugal telecom
Portugal Telecom cuts dividend for 2013, 2014
2013-08-14 14:06:00| Telecompaper Headlines
(Telecompaper) Portugal Telecom announced a sharp reduction in its proposed annual dividend for 2013 and 2014 to EUR 0.10 per share. The company already halved its dividend last year, to EUR 0.325 per share. PT said it remains confident about cash flow generation, but given the weak economy, financial market conditions and the need to invest in the business, it decided to take a more prudent stance on the dividend policy. It added that its balance sheet remains strong, following the recent bond issues and the sale of its stake in CTM. The announcement came alongside first-half results showing operating cash flow (EBITDA minus capex) down 32 percent from a year earlier to EUR 421 million, as EBITDA on the Portuguese market declines and capex requirements increase at its Brazilian affiliate Oi. Free cash flow for the period was a negative EUR 16 million, and adjusted net debt was at 3.6 times estimated EBITDA, up from 3.3 a year ago.
Tags: portugal
telecom
cuts
dividend
Portugal Telecom CEO moves to Oi
2013-06-05 22:08:00| Telecompaper Headlines
(Telecompaper) Portugal Telecom announced that non-executive chairman Henrique Granadiero will take over as CEO from Zeinal Bava, who has been named CEO of Brazilian operator Oi, in which the Portuguese group is a major shareholder. Granadiero will occupy the same role hitherto occupied by Bava. In addition to serving as CEO of the Brazilian operator, Bava will focus on strategic projects and innovation in joint Oi/Portugal Telecom projects. Bava replaces Jose da Cunha as CEO. Da Cunha will resume his role as chairman of Oi, after serving as interim CEO since January. PT also announced that Luis Pacheco de Melo, a member of the executive committee of PT and group CFO, will be elected vice president of PT Portugal.
Tags: portugal
ceo
moves
telecom
Portugal Telecom CEO Bava named CEO of Oi
2013-06-04 02:00:00| Total Telecom latest issue!
Predecessor Francisco Valim was fired earlier this year amid poor financial performance.
Tags: portugal
named
ceo
telecom
Portugal Telecom Selects Intersec's IGLOO Location Based Services Solution
2013-05-14 20:33:09| Location-Based Services (LBS) Zone
Intersec chosen to provide GeoLocation Services enabler to generate new source of revenues
Tags: services
location
based
solution
Portugal Telecom rejects talk of Oi takeover
2013-01-28 09:20:00| Telecompaper Headlines
(Telecompaper) Portugal Telecom issued a statement saying it has no plans to take control of or make an offer for the rest of Brazilian operator Oi. The Portuguese operator said that, together with Oi's controlling shareholders, it "regularly review proposals which may enhance operational performance and governance to extract additional synergies especially in the areas of engineering, network, technology, innovation and services". The statement follows a report in the Portuguese daily Sol, which said that a possible merger of Portugal Telecom and Oi is being examined by the management teams of both companies. The report said that Portugal Telecom CEO Zeinal Bava is "the best positioned candidate" to lead the project. Brazil magazine Veja said that the Jereissati and Andrade families were in talks to sell Oi for BRL 2 billion (USD 985 million). Carlos Jereissati and Sergio Andrade would each sell a stake of 19.35 percent in Oi, the report said.
Tags: talk
portugal
telecom
rejects
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