BES confirms that it is now largest PT shareholder

6 Sep 2012

Portuguese financial group Banco Espirito Santo (BES) now holds 10.42% of the share capital – and associated voting rights – in Portugal Telecom (PT), it has confirmed in a statement to the securities commission, Comissao do Mercado de Valores Mobiliarios (CMVM). The transaction was carried out through BES’ wholly owned Avistar subsidiary. The stake hike means that long-term investor BES is now the largest shareholder in PT, ahead of RS Holding (10.05%), Telemar Norte Leste (10.0%) and Caixa Geral de Depositos Group (6.42%), with a total of 93.42 million PT shares.

Portugal, Pharol (formerly Portugal Telecom SGPS [PT SGPS])