PT opposed to Sonaecom acquisitions

1 Aug 2007

Portugal Telecom (PT) has told the country’s competition authority AdC that it is opposed to Sonaecom’s proposed acquisitions of Tele2 Portugal and Oni Telecom’s residential business, local newspaper Publico reports, citing a source from within PT. Sonaecom, which failed in its takeover bid for PT earlier this year, announced in July that it would pay EUR16 million for Tele2’s local assets. The same month it said it agreed a EUR25 million deal to acquire the residential and SoHo operations of another rival operator, Oni Telecom. If a full regulatory investigation into the deals is not launched, AdC should approve both deals by early September, Thomson Financial reports.

Portugal, Onitelecom (ONI), Optimus (Clix), Tele2 (Portugal)