In a series of transactions last week, Spanish incumbent Telefonica reduced its holding in Portugal Telecom to under 2% and its long position to just below 5%.
Telefonica’s long position in PT is made up of an equity holding and equity-linked…
In a series of transactions last week, Spanish incumbent Telefonica reduced its holding in Portugal Telecom to under 2% and its long position to just below 5%.
Telefonica’s long position in PT is made up of an equity holding and equity-linked swaps.
In a statement, PT said that Telefonica had disposed of 150,000 PT shares on Friday. This means that Telefonica now holds a stake of 1.998% of PT’s share capital and corresponding voting rights.
PT also said that on Thursday, “within an equity-linked swap Telefonica partially disposed of a long economic position corresponding to 175,000 PT shares”.
Taking both the equity holding and the equity-linked swaps into account, Telefonica now holds a long position representing 4.979% of PT’s share capital.
Telefonica was not immediately available for comment.
