Portugal Telecom wants confirmation from CMVM that Sonaecom will not raise bid |
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Published
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Mon, 26 Feb 2007 09:57
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LISBON (AFX) - Portugal Telecom SGPS has asked stock market regulator CMVM to confirm that Sonaecom SGPS is 'legally forbidden' to raise its current 10.5 eur per share bid for PT after it said in a filing that it will not do so.PT said it is referring to a filing issued by Sonaecom on Thursday where the Porto-based telecom said it has no plans for any additional sweeteners to its 10.50 eur per share bid for Portugal Telecom and that rumours regarding such 'hypothetical structures' are designed to distract PT's shareholders from the key decision of how to vote at the group's EGM on Friday.In the filing, Sonaecom made no mention of whether its comments apply to its 9.03 eur per share bid for the minorities in PT's 58 pct-owned PT Multimedia SGPS unit, which could be the focus of any sweeteners for certain PT shareholders who have stakes in both companies.luis.morais@thomson.comlm/anCOPYRIGHTCopyright AFX News Limited 2007. 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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Sonaecom only allowed to raise PT bid if competing offer arises - CMVM 