South African telecommunications giant Telkom confirmed on Monday that it will not be pursuing a stake in Portugal Telecom.
The local fixed-line operator confirmed in March that it had been approached by Portuguese investors to participate in a rival bid for the Portuguese operator, for which Sonaecom was bidding.
However, on Monday it stated: “Portugal Telecom represented one of many growth opportunities that Telkom had been approached about. However, nothing came of this and the company does not expect any further developments regarding this matter.” — I-Net Bridge