Portugal Telecom, SGPS SA (“PT”) informs that it has received today from Telefónica a revised price for the proposal to acquire PT’s 50% shareholding in Brasilcel (“Offer”). This new consideration amounts to Euro 7.15 billion and is valid until 2 July 2010. All the other terms and conditions of the offer received on 1 June 2010 remain the same. This new offer will be submitted to Shareholders at the General Shareholders Meeting that will take place on 30 June 2010.
The full document received from Telefónica is disclosed herein.