Telefonica de Espana SA says it is interested in the Portuguese market, but declined to comment on any concrete plans at this stage. A report in financial daily Cinco Dias said Telefonica was planning to enter the Portuguese market by bidding for a stake in Portugal Telecom SA Telefonica would use the move to reinforce a future position in the Brazilian market, the report said. The Portuguese government floated 22% of Portugal Telecom in June (CI No 2,932). The sale was over-subscribed and a further one is likely in due course. Telefonica had said last month it had joined a consortium to bid for 35% of Brazil’s Companhia Riograndense de Telecomunicacoes, which is due to be sold by the end of this year.
