France Telecom reaches deal to sell Sonaecom stake

Friday 15 February 2013 | 21:12 CET | News
Portuguese conglomerate Sonae and France Telecom-Orange have entered into a put and call option agreement on 15 February that will allow Orange to divest its entire 20 percent stake in the Portuguese telecommunications operator Sonaecom. Sonae already holds a 53.17 percent stake of Sonaecom. The call is exercisable by Sonae over the next 18 months and the put will be exercisable by France Telecom during the 3 months following this initial period. They are both exercisable at the same price of EUR 98.9 million. The price could be increased to EUR 113.5 million if Sonaecom participates in a

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Categories: General
Companies: France Telecom / Orange / Sonaecom / Zon Multimedia
Countries: Portugal
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