PT Portugal: Miguel Pais do Amaral mulling bid with investment funds
Miguel Pais do Amaral, the Portuguese investor, could make a bid for PT Portugal in partnership with investment funds, reported Diario de Noticias. Pais do Amaral is considering an offer for PT Portugal and would need to team up with several investment funds to finance his bid, sources close to the process told the Lusophone paper. In 2006, Pais do Amaral had reportedly mulled a rival offer on Portugal Telecom (PT) to Sonaecom's failed hostile takeover bid, the report said.
Meanwhile, Expresso reported that PT shareholders in Portugal are seeking clarification from Oi, the Brazilian telco, over why it is considering a divestiture of its Portuguese operations that were deemed strategic two months ago. Sources familiar with the process told the Lusophone weekly that national PT investors, including Ongoing, Visabeira and Contolinveste, will block any potential sale of PT Portugal by Oi until the Brazilian group makes more disclosure on its motives for the divestiture and future plans for PT Portugal.
Although PT only holds 25.6% in the merged PT-Oi it has a right to veto asset disposals by the Brazilian telco, the item said.
Source Diario de Noticias, Expresso