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Brazil's Oi Reports 3% Stake In Portugal Telecom

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: -Contributed by Carla Canivete of Webtexto to Dow Jones Newswires; +34-91-395 8120;

Stock News for Tele Norte Lest (TNE)
03/20/201206:40:48Brazil February Mobile Phone Subscriptions Up 1% From Jan
02/16/201205:02:58Brazil January Mobile Phone Subscriptions Up 1.22% From December
01/26/201208:11:25Brazil's Telecoms Regulator Orders Reduction On Tariffs
01/17/201205:17:20Brazil Mobile Phone Subscriptions Rise 19.36% In 2011
12/20/201104:54:10Brazil November Mobile Phone Subscriptions Up 1.92% From October
10/21/201110:26:36Brazil Stocks Open Higher On Hopes For Plan By France, Germany
09/26/201111:12:16CORRECT: Brazil August Mobile Phone Subscriptions Up 1.67% From...
09/26/201108:41:15Brazil August Mobile Phone Subscriptions Up 1.67% From July
07/27/201110:05:24Brazil June Mobile Phone Subscriptions Rise 1.06% On Month
06/22/201106:54:30Brazil May Mobile Phone Subscriptions Rise 1.16% On Month -Report
06/03/201114:46:42Brazil Telephone Co Oi Appoints Francisco Valim As CEO
04/21/201107:24:00Brazil March Mobile Phone Subscriptions Rise 1.42% On Month
03/15/201119:39:24Brazil's Oi Reports 3% Stake In Portugal Telecom
03/04/201117:31:22Tele Norte Leste To Focus Growth On Mobile, Internet, Pay TV
02/18/201118:11:09Brazil Telco Oi To Sell $7.2 Billion In New Common, Preferred...
01/27/201111:56:10Brazil Regulator Recommends Approval Of Vivendi Buy Of GVT
01/26/201104:59:06Portugal Telecom Signs Deal For Minority Stake In Brazil's Oi
01/26/201104:47:49Brazil's Oi, Portugal Telecom Formalize Industrial Alliance
12/16/201014:05:54DirecTV Acquires Added 18.9% Stake In SKY Brasil For $604.8 Million
12/02/201013:18:39CORRECT: DirecTV Sees More Than 30 Million Subscribers By 2013

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