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Portugal Telecom

Telefonica hints at hostile takeover bid for PT

Spain’s Telefonica has stepped up pressure on Portugal Telecom (PT) – its joint-venture partner in Brazilian mobile operator Vivo – hinting that it could launch a hostile takeover of the Portuguese firm if it cannot persuade it to sell its stake in Vivo.

PT rejects buyout offer from Telefonica in Brazil

Portugal Telecom (PT) has reportedly rejected an unsolicited EUR5.7 billion (US$7.65 billion) bid from Spain’s Telefonica for its for stake in Vivo, the Brazilian mobile operator that is jointly owned by both firms.

Telefonica looks to combine Brazilian network assets

Spain’s Telefonica is to integrate its fixed-line and mobile networks in Brazil in a bid to revive the underperforming fixed-line arm, reports the Financial Times today. The Spanish group is to reportedly approach Portugal Telecom – its partner in local mobile firm, Vivo – over closer integration with its fixed-line arm, Telesp, which is struggling amid increasing competition

Portugal Telecom ups revenue 2.1%

Portugal Telecom reported a 2.1 percent growth in revenue for the first quarter, to EUR1.604 billion compared with EUR1.572 billion in the first quarter of 2008, reports Telecompaper.

Telefonica confirms it will sell Meditel stake

Telefonica is to sell its 32.18 percent stake in Moroccan GSM operator Medi Telecom (Meditel), reports Telegeography.

Telefonica and Portugal Telecom exit Morocco

Spain’s Telefonica and Portugal Telecom have completed their exit of Morocco by selling their combined 64.36 percent interest in Meditel – the country’s second-largest mobile operator – to a consortium of minority shareholders.