PTM shareholders may try to block Sonaecom's bid - report |
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Published
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Thu, 11 Jan 2007 08:48
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LISBON (AFX) - PT Multimedia minority shareholders may seek to block Sonaecom SGPS' bid for the cable network over a secret clause in the Competition Authority's decision to allow the bid, Jornal de Negocios reported, without naming sources.The clause plays down the bid's requirement for SonaeCom to win enough backing to take full control of PTM, the business daily noted.Minority shareholders say that the clause was only known to the AdC and Sonaecom, before being made public by stock market regulator CMVM on Tuesday, breaching the AdC's transparency and reducing the values of the investors' shares, Jornal de Negocios said.SonaeCom's 2.2 bln eur, 9.03 eur per share offer for PTM is part of its 13.9 bln eur bid for the whole of the Portugal Telecom group.jonathan.gleave@thomson.comlm/anCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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CMVM rejects PT's request to block approval of Sonaecom's bid for PTM 