Sonaecom has accepted the Portuguese government’s proposal under which the state will retain its so-called ‘golden share’ in Sonaecom takeover target Portugal Telecom (PT). In return, Sonaecom will be exempt from submitting its restructuring plans for PT to an AGM, reports AFX citing local newspaper Diario Economico. If Sonaecom is successful with its planned takeover of PT then the restructuring will be decided by the newly merged entity’s board. The European Commission has called for the Portuguese government to give up its golden share in PT, but the state maintains that it will not give up the stake, which gives it the right to veto certain strategic decisions.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors