The Portuguese Competition Authority has formally approved the merger between cableco Zon Multimedia and full-service telecoms provider Optimus. The approval was accompanied by certain conditions that have already been made public, including the extension of a network sharing pact between Optimus and Vodafone Portugal, and an agreement by Optimus not to charge its fibre-to-the-home (FTTH) customers a network disconnection charge for a period of six months. Optimus has also agreed to provide non-discriminatory access to its FTTH network on a wholesale basis for a period of five years.
In a separate development, Zon has confirmed that Angolan businesswoman Isabel dos Santos has transferred her combined 28.81% shareholding in the company to newly-established holding company ‘Zon Optimus’ (Zopt). The stakes are held through Unitel International Holdings (18.81%) and Kento Holding (10.00%), but are attributed to the ‘KJ Group’ for the purposes of the transaction. Zon notes that Optimus owner Sonaecom now holds 50% of Zopt’s share capital and voting rights, while the KJ Group holds the other 50%, broken down as follows: Kento (17.35%) and Unitel (32.65%).