UPDATE 2-Angolan bidder offers changes to keep Portugal Telecom intact

martes 11 de noviembre de 2014 12:11 GYT

* Dos Santos offers to alter bid for PT holding company

* Statement follows criticism of bid from PT assets owner Oi

* Dos Santos aims to block sale of PT assets to Altice (Recasts with statement from dos Santos)

By Sergio Goncalves

LISBON, Nov 11 (Reuters) - Angolan investor Isabel dos Santos said on Tuesday she was willing to change the terms of her bid to buy Portugal Telecom if necessary, to prevent Brazil's Oi from selling PT's assets to a rival party.

Dos Santos launched the bid for Portugal Telecom, a holding company with a 25.6 percent stake in the combined Oi-PT company, partly in an attempt to thwart a 7 billion-euro bid for PT's Portuguese assets by French telecoms group Altice .

Oi is merging with Portugal Telecom but has already signalled it would consider selling its partner's operations in its home market, enabling it to pay down debts and invest in the Brazilian market.

Oi said on Tuesday the bid by dos Santos - who is the daughter of Angola's president and Africa's richest woman - was "unacceptable" as it would affect the terms of the merger.

But dos Santos shot back, saying she is willing to change some terms of the offer to convince shareholders and address Oi's concerns. Success depends on PT's shareholders, not Oi; PT has two members on Oi's board who could veto any potential sale of PT's assets by Oi.   Continuación...