Isabel dos Santos would reportedly consider buying shares in Oi if she succeeds in acquiring the Brazilian telco’s largest shareholder, Portugal Telecom SGPS.
Another condition includes Oi not selling its Portuguese assets to Altice, despite the two…
Isabel dos Santos would reportedly consider buying shares in Oi if she succeeds in acquiring the Brazilian telco’s largest shareholder, Portugal Telecom SGPS.
Another condition includes Oi not selling its Portuguese assets to Altice, despite the two companies already having an agreement in place.
Last month, the Angolan businesswoman, who is also Africa’s richest woman, submitted a €1.2bn (US$ 1.49bn) bid for PT SGPS, which holds 25.6% of Oi.
However, PT SGPS board members said last week that her bidding price was too low and also questioned the offer’s validity and ultimate objectives.
Although dos Santos has so far refused to increase the offer price, a spokesperson for her investment firm Terra Peregrin was quoted by Reuters as saying she would be willing to acquire shares in Oi and was open to the idea of an IPO for PT Portugal, Oi’s Portuguese assets which are being sold to Altice for €7.4bn (US$9.1bn).
The sale is subject to regulatory clearance and approval from PT SGPS shareholders, which are due to vote on the deal on 12 January.
Dos Santos, who is a controlling shareholder in Portugal’s number 2 operator Nos, is opposed to a sale of PT Portugal.
With her bid for PT SGPS, she is looking to capitalise on potential synergies by linking PT Portugal, Oi and Angola’s Unitel, in which the Brazilian telco and the Angolan billionaire hold a 25% stake each.
