The Fiji Islands Pension Fund has allegedly expressed an interest in acquiring the stake in Timor-Leste’s national fixed and mobile operator Timor Telecom (TT) currently held by Portugal Telecom (PT) and Oi SA, according to a report by Jornal de Negocios. PT’s 76.14%-owned subsidiary Telecomunicacoes Publicas de Timor (TPT) holds a 54.01% stake in TT and a further 3.05% is held through PT’s wholly-owned subsidiary PT Participacoes SGPS. The Timorese government owns 20.59%, VDT Holdings has a 17.86% stake and the remaining 4.49% is held by local businessman Julio Alfaro.
According to TeleGeography’s GlobalComms Database, on 5 May 2014 the entire share capital of PT Portugal Telecom SGPS (PT Portugal) was contributed to Brazil’s Oi SA by Portugal Telecom SGPS (PT SGPS), as part of a capital increase related to the planned merger of the Brazilian and Portuguese telcos, although Oi subsequently agreed to offload PT Portugal to Altice Group for EUR7.4 billion (USD9.2 billion). The deal does not include PT Portugal’s main international assets – the Africatel holding company or TT – which were agreed to be separated from PT Portugal prior to the sale to Altice. Since that deal was announced, a number of parties have reportedly expressed an interest in the TT stake, including the Timorese government itself.