Spain’s Telefonica confirms interest in acquiring Portugal telecom’s stake in Brazil’s Vivo

28 July 2006

Madrid, Spain, 28 July – Spain’s Telefonica re-stated Thursday its interest in acquiring the 50 percent share owned by Portugal Telecom (PT) in Brazilian mobile phone operator Vivo, whilst declining to comment on reports it would sell its own stake in the Portuguese telecommunications operator.

“We are interested in buying the 50 percent PT owns of Vivo. If they want to sell that stake to us as a reasonable price, we want to buy it,” Telefonica spokesman Miguel Angel Garçon told Portuguese news agency Lusa.

Angel Garçon declined to comment, however, on reports from the Spanish press that Telefonica was interested in selling the stake it currently owns in PT.

Spanish newspaper, La Vanguardia, reported Monday, without giving sources, that telefonica planned to sell the 9.9 percent it owns of PT and use the funds raised to take total control of Vivo.

The paper said the sale would supply Telefonica with 8 million euros.

Vivo is currently 50 percent owned by PT and 50 percent owned by Telefonica. (macauhub)