Portugal’s Banco Espirito Santo (BES) has become Portugal Telecom’s largest shareholder following a recent string of transactions by wholly-owned subsidiary Avistar.
The Lisbon-based bank now directly and indirectly holds 10.42% of the share capital…
Portugal’s Banco Espirito Santo (BES) has become Portugal Telecom’s largest shareholder following a recent string of transactions by wholly-owned subsidiary Avistar.
The Lisbon-based bank now directly and indirectly holds 10.42% of the share capital and corresponding voting rights, the Portuguese incumbent said in a statement.
Avistar bought the shares in a series of regular and off-market transactions between 27 August and 3 September, according to the statement, paying between €3.655 and €3.88 per share.
RS Holding, owned by the Rocha dos Santos’ family’s private investment vehicle The Ongoing Group, is now the second largest shareholder with a 10.05% stake, while Brazilian telco Telemar Norte Lest is the third largest with a 10% stake.
