Portugal Telecom: CMVM tells Isabel dos Santos to raise EUR 1.35/share bid; declines request for mandatory offer waiver
The CMVM Portuguese Securities Commission has informed Isabel dos Santos that her EUR 1.35 per share bid on Portugal Telecom (PT)) should be raised based on the six-month average PT stock price and has also declined her request for a mandatory offer waiver from the regulator. Full CMVM statement, in Portuguese, here.
Meanwhile, Diario Economico cited a spokesperson for dos Santos as saying the Angolan investor will decide today (18 December) whether to make a revised PT bid or abandon the process.
Regulatory Authority Press Release (Translated), Diario Economico