Telmex takes PT stake

14 Aug 2006

The Mexican telco Telmex has become the fifth largest shareholder in Portugal Telecom (PT) after acquiring a 3.4% interest. Reuters reports that Telmex has bought 38.46 million PT shares in what it says is ‘strictly a financial operation’. PT, which is currently the subject of a takeover attempt by Portuguese utility group Sonae, says it did not solicit Telmex’s involvement.

Portugal, Telefonos de Mexico (Telmex)