Wall Street Journal
TELEFONICA PUSHES FOR A VIVO DEAL
Telefonica SA, which owns 10 percent of Portugal Telecom, will now try to press major investors in PT to accept Telefonica’s EUR5.7 billion bid for PT’s stake in the Brazilian mobile operator, Vivo Participacoes SA. So far, Portugal Telecom has rejected Telefonica’s offers and declared that Brazil is a key market, and Vivo a strategic asset.
Telefonica SA, which owns 10 percent of Portugal Telecom, will now try to press major investors in PT to accept Telefonica’s EUR5.7 billion bid for PT’s stake in the Brazilian mobile operator, Vivo Participacoes SA. So far, Portugal Telecom has rejected Telefonica’s offers and declared that Brazil is a key market, and Vivo a strategic asset.
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