Isabel dos Santos has made an offer for Portugal Telecom SGPS, which is listed on the Portuguese Stock Market.
Quoting a statement published by dos Santos’ Portuguese-registered company Terra Peregrin published by the regulator CMVM, Reuters reports that the daughter of Angola’s president has launched a takeover bid of €1.35 per share, with its success dependent on buying over 50% of the telco’s shares.
Just a week ago, Altice offered €7 billion to Oi for PT Portugal, whose only remaining assets following its merger with Oi earlier this year are a 25.7% stake in Oi and €900 million in defaulted debt by the bankrupt company Rioforte.
A spokesman for dos Santos said: “The end objective is the acquisition of a large, but not controlling stake in Oi, allowing to maintain the Portugal Telecom group fully intact”.
