FT signs SonaeCom deal

10 Jun 2005

The Portuguese telco SonaeCom has signed a three-year partnership agreement with France Télécom, which will strengthen the ties between the two companies. The deal will see the French company exchanging its 20.18% stake in the mobile operator Optimus and its 43.3% interests in the wireline provider Novis and the ISP Clix for a 23.7% stake in SonaeCom. In return, SonaeCom will increase its holding in all three of these companies. The financial details of the deal have not been disclosed. Optimus is Portugal’s third largest cellular operator, with around 1.7 million subscribers and a 16% market share. SonaeCom is backed by the Portuguese industrial group Sonae.

Portugal, Optimus (Movel)