Sonaecom eyes Oni Telecom

21 May 2007

Portugal’s Sonaecom has made a EUR30 million (USD40.5 million) bid to acquire a stake in the fixed line business of rival operator Oni Telecom. Local newspaper Jornal de Negocios reports that the company is hoping to buy Oni’s residential wireline business and part of its corporate fixed line operations within the next few weeks. Oni Telecom was sold by Energias de Portugal last year to private equity fund Riverside and local firm Gestmin for a total of EUR160 million. Sonaecom has offered EUR30 million to Riverside, and it plans to make further offers in the coming months. Sonaecom failed with its bid to take over the country’s dominant provider Portugal Telecom earlier this year, but is still thought to be considering a move for PT’s cable TV division PT Multimedia.

Portugal, Onitelecom (ONI), Optimus (Clix)