Tele Norte Leste Participacoes SA is likely to be chosen by President Luiz Inacio Lula da Silva to manage Brazil’s broadband Internet network, Diario Economico reported, citing unidentified people in the country’s telecommunications industry.
Most European stocks dropped, following the Stoxx Europe 600 Index’s largest decline in a month yesterday, as travel-and-leisure companies slid after TUI AG reported a wider loss and auto-related shares slipped.
China Power International is willing to buy a 20 percent stake in utility EDP-Energias de Portugal SA that the Portuguese government plans to sell, Diario Economico reported, citing unidentified people linked to the process.
Portugal Telecom SGPS SA plans to ensure it has veto rights over key decisions in Tele Norte Leste Participacoes SA, or Oi, Diario Economico said, citing a report in Brazilian newspaper Valor Economico.
Galp Energia SGPS SA is discussing an agreement with Petroleo Brasileiro SA of Brazil and Angola’s Sonangol SA about the development of joint businesses, Diario Economico reported, without saying how it obtained the information.
Eni SpA is asking 4.7 billion euros ($6.2 billion), or 17 euros a share, for its 33.34 percent stake in Portuguese oil-and-gas company Galp Energia SGPS SA, Diario Economico reported, without saying where it got the information. A spokesman for the Italian company declined to comment on that figure, the newspaper said.