www.WirelessFederation.com/news: Brazil has been described as “indispensable” to the Portugal Telecom future growth by the main individual shareholder, Nuno Vasconcellos. The shareholder has also said that that PT should focus on acquiring Telefonica’s participation in Brazilian mobile operator Vivo.

Nuno Vasconcellos currently owns a 6.74 percent stake in Portugal Telecom via the Portuguese investment fund Ongoing Strategy Investments. Telefonica is the largest shareholder of PT with 10 percent stake, followed by Brandes Investments Partners (9.48%), Espirito Santo (8.63%) and Caixa Geral (7.28%).

Selling the Vivo stake now “even at a great price has been described as throwing away the future of the company. Vivendi’s entry on the Brazilian market via the GVT acquisition has changed the things in the local market.

According to Vasconcellos, if Telefonica doesn’t act fast, the market may consolidate in a different direction and a hostile takeover from anyone is not welcome, but he had also not denied  raising his stake in Portugal Telecom, explaining that “any shareholder happy with a company may consider” further increasing his stake.