Portugal Telecom pleases

Article Abstract:

Portugal Telecom is being privatized with an international placement which is receiving a favorable response. Overseas investors will be offered 23 million shares, while 27 million shares will be offered in Portugal. The total stake being sold is 26.3%. Factors likely to affect the future performance of the company include price controls, liberalization of the Portuguese telecoms market, the company's debt levels, and the cost of a job shedding program.

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Portugal Telecom shares slip back

Article Abstract:

Shares in Portugal Telecom have dropped to less than the issue price of Jun 1 1995 when the company was involved in the biggest privatization in Portugal to date. The issue price is seen as too high by some analysts and a share exchange has also affected the share price. The exchange involves Companhia Portuguesa de Radio Marconi, an international telecoms concern. Retail demand for the shares was high and share prices often fall after privatizations.

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PT2 sale nets US$1 billion

Article Abstract:

Portugal Telecom (PT) is to undertake the third phase of its privatisation after a successful secondary global offering of 22%. The success is attributed to strong earnings forecasts and an attractive price-earnings ratio. A strategic partner will be selected, and interest has been shown by Deutsche Telekom, Telefonica of Spain, Stet of Italy, Bell Atlantic and Singapore Telecom.

Telephone Communication, Management, Portugal, Privatization, Privatization (Business)

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