Societe Generale boosts PT stake to 2.67%

10 Dec 2012

Paris-based banking group Societe Generale has reportedly negotiated an ‘equity-linked share swap’ to take its voting stake in Portugal Telecom (PT) to 2.673%, reports. The deal was completed on 27 November and the bank’s new shareholding will become effective from 17 December.

Last month TeleGeography’s CommsUpdate reported that Spanish telecoms giant Telefonica suggested that it was likely to dispose of its 2% stake in PT ‘in the coming weeks’. It is unclear if the two transactions are related.

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