Sonaecom acquires Tele2 Portugal

29 Jun 2007

Portugal’s Sonaecom has acquired the Portugese operations of Scandinavian telco Tele2 for EUR16 million (USD21.5 million), including 310,000 users of indirect fixed line voice services and 12,000 broadband internet subscribers. In 2006 Tele2 Portugal had an EBITDA loss of EUR8 million on revenues of EUR50.8 million. According to TeleGeography’s GlobalComms database, it has begun rolling out a DSL network in selected cities, and launched broadband services over its own infrastructure in January 2007. Sonaecom recently failed in a bid to acquire larger rival Portugal Telecom, but earlier this month it agreed a deal to buy the residential and SOHO business of smaller domestic fixed line operator Oni Telecom for EUR25 million. Sonaecom’s COO Luis Reis said that ‘the acquisition of Oni and of Tele2 shows that Sonaecom is clearly a major competitor of Portugal Telecom in Portugal.’

Portugal, Optimus (Clix), Tele2 (Portugal)