A news report says the Portuguese government has used its special voting rights to block Telefonica's euro7.15 billion ($8.72 billion) bid to buy Portugal Telecom's stake in Brazil's leading cell phone company Vivo.
Portuguese state-owned news agency Lusa said Portugal Telecom shareholders had voted Wednesday in favor of the sale of PT's 50 percent stake in Brasilcel, a holding company which in turn owns 60 percent of Vivo. Spain's Telefonica owns the other 50 percent of Brasilcel.
Government and Portugal Telecom officials could not immediately be reached for comment.
Lusa said the Portuguese state stepped in after the vote at a closed-door …
No comments:
Post a Comment