The Spanish telco Telefonica holds 5.46% of the shares in Portugal’s largest cable TV and internet operator, PT Multimedia (PTM), following its recent spin-off from Portugal Telecom (PT). PT has been left with an 8.3% stake in PTM, Dow Jones reports, which it must retain for at least six months; it is then expected to sell off its shares to comply with regulatory calls for it to separate its fixed line and cable operations. Telefonica has a 10% interest in PT. PTM controls around 70% of the Portuguese cable market.
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