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Telefonica offers PT EUR 3 bln for Vivo stake

  • July 10th, 2007
  • 11:01 am

Spanish telephony operator Telefonica has made an offer to Portugal Telecom to gain control of Brazilian mobile operator Vivo. The  offer amounted to more than EUR 3 billion but did not cite its sources for the figure. Telefonica Chairman Cesar Alierta confirmed to the FT an offer had been made but declined to specify the amount. Telefonica has given Portugal Telecom until August to respond to the offer. Telefonica has long made clear it wanted to gain full control of Vivo, which it jointly owns with PT. Alierta told  the Spanish operator was focusing on organic growth. He did not rule out eventually seeking full control of Telecom Italia, Italy’s largest telecoms company, in which it plans to buy a controlling stake as part of a consortium led by Italian banks. Alierta ruled out buying French mobile operator Bouygues Telecom and also said the group would not pursue US assets such as T-Mobile in the US.

   

PT completes share buyback

  • June 5th, 2007
  • 1:25 pm

Portugal’s largest telco, Portugal Telecom (PT), has bought 3.08% of its own share capital as part of a buyback programme, Thomson Financial reports. The buyback was proposed in a shareholder remuneration package which was announced as part of the defence measures against a failed hostile takeover bid from Sonaecom earlier this year.

   

PT hints at possible Telemar bid

  • May 31st, 2007
  • 8:08 am

Portugal Telecom is considering a bid for Brazilian telecommunications group Telemar, says Reuters citing a report from local daily Diario Economico. ‘Portugal Telecom’s executive commission proposed to the company’s board a bid for Telemar,’ said Diario Economico, quoting unidentified sources as saying. Telemar has a market capitalisation of about USD9.7 billion.

   

Vivo secures USD772m loan from the BNDES for GSM overlay

  • May 30th, 2007
  • 9:35 am

Brazil’s national development bank BNDES has approved a BRL1.5 billion (USD772 million) loan for the country’s largest mobile operator Vivo, writes BNamericas. The loan will be used to allow the cellco to complete its GSM overlay project, as well as for other general network improvements. Vivo, a joint venture between Spain’s Telefónica and Portugal Telecom (PT), is active in 19 out of the country’s 27 concession areas. Last year it invested more than BRL2.1 billion in its networks, more than half of which was set aside for installing a GSM overlay on its CDMA network. To date, Vivo has implemented GSM in 2,295 municipalities. The loan will also help facilitate the migration of services to 3G, it said in a statement.

   

PT net profit down 16% in Q1, sales rise 2.5%

  • May 10th, 2007
  • 11:11 am

Portugal Telecom reported first-quarter net profit down 16.3 percent from a year earlier, to EUR 176.6 million, hurt by costs for staff reductions and higher financial expenses. Revenues increased 2.5 percent to EUR 1.461 billion, and EBITDA was up 5.1 percent to EUR 570.8 million, led by the mobile operations TMN and Vivo. The fixed-line division posted sales down 6 percent to EUR 499.3 million, and EBITDA down 2.8 percent to EUR 240.1 million. Access lines fell by 2 percent from a year ago to 4.357 million, with a loss of some 104,000 PSTN/ISDN lines in the quarter. PT gained 16,000 ADSL customers in Q1 for a total retail base of 701,000. At TMN, revenues rose 1.9 percent to EUR 363.3 million, and EBITDA was up 3.4 percent year-on-year to EUR 160.9 million. The operator added 10,000 new customers in the quarter for a total 5.714 million, while average revenue per user fell to EUR 19.1 from EUR 20.5 a year ago.