PT, Téléfonica say Vivo share sale report is just a rumour

25 May 2005

Spokespeople at Portugal Telecom (PT) and Téléfonica have dismissed yesterday’s reports that PT may sell its stake in Brazilian joint venture Brasilcel (Vivo) in order to free it up to acquire Brasil Telecom, saying that they are unfounded rumours and that nothing has been officially discussed.

In a separate story mobile operator Telemig Celular Participacoes has announced plans to launch services across the western half of Minas Gerais on 30 May, a move which will extend its coverage across the entire state for the first time. The expansion will add 500 cities and towns to Telemig’s coverage and take its reach to around 18.9 million inhabitants. The cellco currently claims around 2.8 million mobile customers.

Brazil, Telefonica