Portugal Telecom is reportedly considering a counter bid to acquire Telefonica’s stake in Brazilian mobile operator Vivo.
According to various reports the Portuguese firm has approached investors to assess the appetite for an offer to rival Telefonica’s…
Portugal Telecom is reportedly considering a counter bid to acquire Telefonica’s stake in Brazilian mobile operator Vivo.
According to various reports the Portuguese firm has approached investors to assess the appetite for an offer to rival Telefonica’s initial US$7.3bn bid for PT’s stake in Brasicel, the joint venture that controls Vivo.
Banco Espirito Santo, PT’s second largest shareholder, has reportedly claimed that investors from the Middle East and Asia are interested in participating in a bid for Telefonica’s stake.
Telefonica, meanwhile, has threatened to bid directly for Portugal Telecom as it looks to stir up shareholder interest in a sale.
Portugal Telecom is understood to be advised by BoA Merrill Lynch. Telefonica has mandated UBS and Credit Suisse.