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Portugal Phone Card News | Portugal Telecom News
Portugal Telecom share buyback programme may run until May

Date: 2/26/2008 2:46:19 AM

Portugal Telecom SGPS (NYSE:PT) 2.1 bln eur share buyback programme will not be concluded before the telecom groups AGM scheduled for endMarch and could last until May, Jornal de Negocios reported.

Initially, the buyback programme, under which PT has bought 145 mln shares for a total amount of 1.4 bln eur, was expected to be concluded before PTs AGM, the paper said.

PT proposed the share buyback last year, as a defensive move against Sonaecom SGPSs failed bid for the PT group.

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