Sonaecom takes control at Optimus

19 Sep 2006

Portuguese communications group Sonaecom has taken over the government’s 5.04% stake in its mobile division Optimus, and is now the sole shareholder of the cellco, which is Portugal’s third largest wireless operator with around 1.3 million subscribers. Dow Jones reports that the deal came as part of the telco’s plan to reorganise its business to facilitate its planned hostile takeover of its larger rival, Portugal Telecom. The government retains a 3% stake in Sonaecom via Parpublica Participacoes Publicas SGPS.

Portugal, Optimus (Clix), Optimus (Movel)