CGD seeks to offload PT stake ‘as quickly as possible’

12 Feb 2013

State-owned bank Caixa Geral de Depositos (CGD) has confirmed that hopes to sell its 6.42% stake in Portugal Telecom (PT) at the earliest possible opportunity. The development was revealed by CEO Jose de Matos at a press conference to announce the bank’s EUR395 million (USD528.6 million) 2012 loss. The chief executive commented: ‘Portugal Telecom is a non-strategic case, and hence its shares are up for sale. I will sell as quickly as possible’.

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