Sonae to bid for control of Vivo?

1 Mar 2006

According to BNamericas, Portuguese industrial conglomerate Sonae SGPS has expressed an interest in gaining control of Brazilian mobile operator Vivo as part of its recently proposed plan to take over Vivo shareholder Portugal Telecom (PT). In a statement, Sonae said its business unit Sonaecom was conducting a feasibility study into gaining control of all of PT’s international investments, with a primary focus on its Brazilian and Moroccan operations. Sonaecom also plans to carry out extensive improvements to PT’s domestic operations. A takeover deal could be thwarted by Vivo’s other parent company Telefónica Móviles, however, and Sonaecom hints that such an obstacle could lead it to sell PT’s Vivo shares.

Brazil, Telefonica Moviles Espana (Movistar)