Disqus
France Telecom is selling its 20% stake in Portuguese operator Sonaecom to the affiliate’s majority parent, Sonae, in a deal worth up to 100 million EUR.
The move comes on the heels of similar deals the company has been making in the past by disposing its minority assets in Austria and Switzerland.
Under the put and call option agreement to transfer the stake, Sonae will be able to exercise the call over the next 18 months and the put will be exercisable by France Telecom during the three months following this initial period. They are both exercisable at the same price of 98.9 million EUR.
The price tag could further rise to 113.5 million EUR if Sonaecom participates in “a material transaction (involving Sonaecom or its material assets) that consolidates or restructures the Portuguese telecoms sector in the 24 months following the signature of the agreement.”
At the moment, Sonae holds a 53.17% stake in Sonaecom, which trades under the Optimus brand and is Portugal’s third-largest mobile operator after Portugal Telecom and Vodafone.
[Via: MobileWorldLive]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
