Sonae may get Telefonica boost

22 Jun 2006

A report from a Portuguese newspaper claims that Spanish telco Telefonica is considering selling its 9.96% stake in Portugal Telecom to Sonaecom, the firm which is attempting a EUR11.1 billion takeover of the country’s dominant operator. Jornal de Negocios says Telefonica is looking for funds to finance future investments.

Portugal, Optimus (Clix)