Portugal Telecom has submitted its offer prospectus to the Portuguese stock market regulator.

Portugal Telecom has submitted its offer prospectus to the Portuguese stock market regulator. Following this, Portuguese telecom company Sonaecom has placed an 11.1 billion euro bid for the company. A consortium led by the Texas Pacific Group and Kohlberg Kravis Roberts is also keen to bid for the company. There is also substantial interest in the company’s cable and other assets from Vodafone and private equity groups such as BC Partners, Silver Lake Partners and Apollo Management. As of now, Portugal Telecom is, however, opposing Sonaecom’s offer.