President pushes for PT decision

23 Nov 2006

Portugal’s President Anibal Cavaco Silva has called on the country’s competition authority AdC to push through its study into Sonaecom’s proposed takeover of Portugal Telecom. Dow Jones cites a report from local newspaper Diario Economico which says the President has already had at least one meeting with the head of AdC, Abel Mateus, to discuss the deal. AdC has given a preliminary ruling which said a deal could progress if Sonaecom accepts a number of conditions, including a sell-off of either PT’s fixed line operations or its cable TV networks. A final ruling is expected within the next few weeks.

Portugal, Optimus (Clix)