PT would be interested in Telefonica’s Vivo stake – CEO

1 Oct 2007

Portugal Telecom (PT) would be interested in acquiring Telefonica’s 50% stake in their Brazilian mobile joint venture Vivo, the Portuguese company’s CEO and chairman Henrique Granadeiro told the Jornal de Negocios. Granadeiro said PT was keen to position itself as a major competitor to its Spanish counterpart, noting that there was currently no carrier ‘consolidating its presence in the Portuguese-speaking world which has 200 million people, while Telefonica and Telmex are consolidating in the 500 million strong Spanish-speaking world’. Thomson Financial adds that the PT man is aware of Telefonica’s own aspirations where Vivo is concerned and said that while the situation was less than perfect, ‘the results of the last year and a half have been positive’.

Brazil, Telefonica