SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of May 2010
Commission File Number 1-13758
PORTUGAL TELECOM, SGPS, S.A.
(Exact name of registrant as specified in its charter)
Av. Fontes Pereira de Melo, 40
1069 - 300 Lisboa, Portugal
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
Release | Lisbon | 10 May 2010
Portugal Telecom announces proposal received from Telefónica on Vivo
Portugal Telecom SGPS, SA (“PT”) informs that it has received an unsolicited, binding and unconditional offer from Telefonica SA (“Telefonica”) to acquire PT’s 50% shareholding in Brasilcel, the holding company of Vivo Participações SA (“Vivo”), for € 5.7 billion (the “Offer”).
The Offer expires on the 6th of June 2010.
The Board of Directors has met today to review the merits of the Offer.
Vivo is core to PT’s strategy and the sale of its stake would be against the long term growth prospects of PT.
The Board of Directors has unanimously rejected the Offer.
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Portugal Telecom, SGPS, SA |
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Public company |
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Portugal Telecom is listed on the Euronext and New York Stock Exchange. Information may be accessed on the Reuters under the symbols PTC.LS and PT and on Bloomberg under the symbol PTC PL. |
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Nuno Vieira |
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Avenida Fontes Pereira de Melo, 40 |
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Share capital Euro 26,895,375 |
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Investor Relations Director |
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1069-300 Lisbon |
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Registered in the Commercial |
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nuno.t.vieira@telecom.pt |
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Portugal |
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Registry Office of Lisbon |
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Tel.: +351 21 500 1701 |
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and Corporation no. 503 215 058 |
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Fax: +351 21 500 0800 |
www.telecom.pt
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: May 11, 2010
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PORTUGAL TELECOM, SGPS, S.A. |
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By: |
/s/ Nuno Vieira |
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Nuno Vieira Investor Relations Director |
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FORWARD-LOOKING STATEMENTS
This document may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.