The Portuguese telecoms operator Sonaecom has submitted a hostile takeover bid for the traditional operator Portugal Telecom (PT) to the Portuguese securities regulator (CNVM), it announced in a press release published on 29 December. The group maintained its original offer of 9.5 per share for the purchase of Portugal Telecom and 9.03 per share for the pruchase of its subsidiary and multimedia branch, PTM. The CMVM now has eight days to approve or reject the bid of 11.1 billion initiated by Sonaecom in February which may result in one of Portugal's...

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