Sonaecom agrees to buy Oni

21 Jun 2007

Portugese telco Sonaecom said that its Novis Telecom unit has successfully completed talks with smaller domestic rival Oni Telecom and has reached an agreement to buy Oni’s residential and SOHO user business and related assets for EUR25 million (USD33.5 million). Earlier this year Sonaecom failed with an audacious bid to take over its much larger rival, Portugal Telecom.

Portugal, Onitelecom (ONI), Optimus (Clix)