Portugal Telecom: Isabel dos Santos likely to withdraw EUR 1.21bn bid if Oi sells PT Portugal
Isabel dos Santos, the Angolan entrepreneur, will probably withdraw her EUR 1.21bn bid on Portugal Telecom (PT) if Oi proceeds with the sale of PT Portugal, reported Diario de Noticias. The Lusophone daily quoted Mario Silva, an executive in dos Santos' holding company Terra Peregrin, as saying the Angolan investor's EUR 1.35 per share PT bid will most likely be withdrawn if PT Portugal is divested by Oi, the Brazilian telco.
Oi is in exclusive negotiations with Altice on the sale of PT Portugal, the Brazilian group's Portuguese businesses, for EUR 7.4bn. PT holds a 24.6% stake in Oi and could reportedly stymie the sale of PT Portugal by its Brazilian partner.
Source Diario de Noticias