The chairman of Sonaecom says he has ‘no doubts’ about the success of his company’s hostile takeover bid for Portugal Telecom (PT). Paulo Azevedo told Jornal de Negocios that he is more confident now that Sonaecom’s bid will be successful than when the offer was first launched a year ago. Sonaecom is currently trying to encourage PT investors to accept its EUR9.50 per share offer; it is also offering EUR9.03 per share for its rival’s cable TV unit PT Multimedia. The offer will be open for another month.
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