LISBON (DJ Bolsa)--Portugal Telecom (PT, PTC.LB) said Tuesday
that Brazilian peer Tele Norte Leste Participacoes SA (TNE,
TNLP4.BR), or Oi, currently owns 3% of its share capital.
In a regulatory filing, Portugal Telecom said the transaction
was part of a deal between Oi and Barclays PLC (BCS, BARC.LN),
under which the bank would transfer close to 27 million shares to
the Brazilian company until April 4. At Tuesday's closing price of
EUR8.06, the 3% stake is worth EUR216.8 million.
According to Portuguese market rules, a company must disclose
its stake in another entity when it reaches the 2% threshold.
In January, PT finalized a deal worth 8.32 billion Brazilian
reais ($5 billion), which will see Oi acquiring up to 10% of the
Portuguese telecom. According to the deal, which is expected to be
completed in March, PT will own at least 22.38% of Oi, as well as a
12.1% stake in Telemar Participacoes, Oi's holding company.
Company Website: http://www.telecom.pt
-Contributed by Carla Canivete of Webtexto to Dow Jones
Newswires; +34-91-395 8120;