Portugal’s president demands PT answers over TVI acquisition

Portugal’s president Anibal Cavaco Silva has asked incumbent telco Portugal Telecom (PT) to explain why it is considering buying a stake in Portugal’s Media Capital, owner of TV channel TVI.

Portugal’s government has the power to veto or approve major decisions made by PT. Cavaco Silva said that he didn’t normally make public declarations about companies but he had made an exception in this case for the sake of “transparency”.

Spanish media company Mediapro is also interested in acquiring the 30% stake in Media Capital that Spanish rival Prisa recently put up for sale.