BUZZ-Portugal Telecom: Takeover bid

lunes 10 de noviembre de 2014 09:30 GYT
 

** Company's shares up 9.4 pct at 1.33 euros in Lisbon after Isabel dos Santos, the daughter of Angola's president, launches 1.35 euros/share takeover bid

** Stock is top gainer in Lisbon. U.S. listed shares up 11.8 pct at $1.70 premarket

** Bid an effort to thwart a 7 billion euro ($8.7 billion) bid for company's assets by Altice, controlled by Franco-Israeli billionaire telecoms entrepreneur Patrick Drahi

** The only remaining assets held by Portugal Telecom after its merger with Brazil's Oi this year are its 25.7 percent stake in Oi and 900 million euros of defaulted debt by Rioforte

** Up to Friday's close, the company ADRs had lost about two-thirds of their value this year (1 US dollar = 0.8010 euro)