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Portugal Telecom SGPS SA Acquires Stake in Joint-Venture Sport TV between Sportinveste SGPS SA, ZON Multimedia Servicos de Telecomunicacoes e Multimedia SGPS SA and PT


Thursday, 20 Dec 2012 01:17pm EST 

Portugal Telecom SGPS SA (PT) announced that it has reached an agreement on a number of transactions that will allow PT to have a 25% stake in a joint-venture that will combine Sport TV Portugal SA (Sport TV), Sportinveste Multimedia SGPS SA (SIMM) and PP TV - Publicidade de Portugal e Televisao SA (PPTV). PT will contribute its 50% stake in SIMM and invest, through a rights issue in Sport TV, a net amount of up to EUR 21 million. Following these transactions, Sport TV, which will incorporate PPTV and SIMM, will be owned by Sportinveste SGPS SA (Sportinveste) (50%), PT (25%) and ZON Multimedia Servicos de Telecomunicacoes e Multimedia SGPS SA (Zon) (25%). 

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