Portuguese government to veto PT’s Media Capital acquisition

The Portuguese government is to veto Portugal Telecom’s acquisition of a 30% stake in Media Capital, which owns the country’s leading broadcaster TVI.

Portugal Telecom had looked to acquire the stake in the company from Spanish media company Prisa. However, local authorities have decided to veto the plans, which would have forced them to change the country’s cross ownership media laws.
Spanish media company Mediapro is also interested in acquiring the stake.