Portugal Telecom – Introduction
In Portugal, the telecommunication business remains difficult due to weak economic conditions and tough competition. However, PTC has made important internal adjustments which have started to improve its overall situation.
The company maintains a stake of about 25% in Oi in Brazil, plus other minority participations in some African telecommunication companies. These stakes could eventually be put up for sale in the event the situation becomes worse in Portugal.
However as European economic conditions improve, PTC could become a recovery play and therefore the company and its various stakes could become a takeover target.