LISBON, Nov 10 (Reuters) - Portugal’s CMVM market regulator suspended trade in Portugal Telecom on Monday after Isabel dos Santos, the daughter of Angola’s president, launched a takeover bid for the company.
CMVM said in a statement the suspension was intended to give investors time to consider the bid. Isabel dos Santos’ Terra Peregrin launched the bid at 1.35 euros per Portugal Telecom share.
Portugal Telecom shares closed 2.64 percent lower at 1.217 euros a share on Friday.
Reporting By Daniel Alvarenga, writing by Axel Bugge