After rejecting a $15.3 billion hostile takeover bid by Sonaecom, Portugal Telecom (PT) may next take on Spanish telecom service provider Telefónica for control of Vivo, Brazil’s largest mobile operator.

After rejecting a $15.3 billion hostile takeover bid by Sonaecom, Portugal Telecom (PT) may next take on Spanish telecom service provider Telefonica for control of Vivo, Brazil’s largest mobile operator. PT is aiming to either maintain its stake in, or take over control of, Vivo as it is planning to build its international operations in Brazil and Africa. Moreover, PT intends to separate the ownership of its fixed line and cable networks. It will also spin off PT Multimedia (PTM), its cable television and media content division. Sonaecom is expected to be one of the several candidates contending for PTM.