Brazil's Oi says bid for Portugal Telecom inappropriate
LISBON Nov 10 (Reuters) - Brazil's telecommunications giant Oi said on Monday it considered ill-timed and inappropriate a bid by Angolan entrepreneur Isabel dos Santos for Portugal Telecom following the combination of assets between Oi and PT.
"Having been informed about the launched takeover bid ... Oi's board considers inopportune any change in the previously agreed terms of definitive contracts signed with Portugal Telecom SGPS on Sept. 8 2014," Oi said in a statement.
Dos Santos, the daughter of Angola's president, launched a takeover bid for Portugal Telecom PTC.LS at 1.35 euros per share on Sunday in an attempt to thwart a 7 billion-euro bid for the Portuguese company's assets by Altice.
(Reporting By Andrei Khalip)
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