Telecommunication Industry News & Updates.- Sonae, a Portuguese conglomerate, has launched a $12.9 billion bid for control of Portugal Telecom, which operates fixed-line and wireless services in Portugal, Brazil and North Africa. Spain's Telefonica, owner of 9.9% stake in PT, has been mentioned as a possible bidder, but it remains unclear whether it will make a move. Click here to get telecommuncation advice and saving tips.
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