P.TELECOM : Qualified holding and long position - Barclays Bank

14 Jan 13 18:59

Qualified holding and long position - Barclays Bank 

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Portugal Telecom, SGPS S.A. ("PT") informs that it was notified by Barclays Plc that this entity no longer holds a qualified holding in PT, although it has maintained a long position corresponding to more than 2% of PT's share capital and voting rights.

This was the result of Barclays Capital Securities Ltd's disposal, on 4 January 2013, of 3,320,000 PT shares representing 0.39% of PT' share capital and voting rights and the subsequent purchase, on the same date, of a cash settled swap over the same number of PT shares. This contract is held by the same Barclays Capital Securities Ltd.

As a result of such transactions, Barclays Plc's holding pursuant to articles 16 and 20 of the Portuguese Securities Code now corresponds to 16,402,365 ordinary shares representing 1.83% of PT's share capital and corresponding voting rights.

Nonetheless, Barclays Plc's long position in PT remained above the 2% threshold of reportable interests as was previously disclosed.

It was further communicated that Barclays Capital Securities Ltd currently holds the following financial instruments:

Type of Financial Instrument	Nr. of shares underlying	Expiry date	% of share capital and voting rights
Equity Portfolio Swap (cash settled)	34,596	24 October 2013	0.004%
Equity Portfolio Swap (cash settled)	45,048	6 September 2013	0.01%
Equity Portfolio Swap (cash settled)	108,699	9 May 2013	0.01%
Cash Settled Swap	3,500,000	6 January 2013	0.39%
Cash Settled Swap	250,000	12 November 2013	0.03%
Future Contract Cash Settled)	285,100	15 March 2013	0.03%
Contracts for Difference	1,801,410	n.a.	0.20%

Finally, PT was informed that Barclays Plc currently holds a long position corresponding to 22,427,218 ordinary shares representing 2.50% of PT's share capital and corresponding voting rights, as follows:

• Barclays Wealth Managers Portugal - SGFIM S.A.: 60,853 ordinary shares held, representing 0.01% of the share capital and voting rights in PT;
• Barclays Bank PLC - France: 944 ordinary shares held, representing 0.0001% of the share capital and voting rights in PT;
• Barclays Bank PLC: 291,587 PT ordinary shares held, representing 0.03% of the share capital and voting rights in PT;
• Barclays Capital Securities Ltd: 15,447,202 ordinary shares held, representing 1.72% of the share capital and voting rights in PT, and 6,024,853 ordinary shares via cash settled financial instruments, representing 0.67% of the share capital and voting rights in PT;
• Palomino Ltd: 601,779 ordinary shares held, representing 0.07% of the share capital and voting rights in PT.

This statement is pursuant to the terms and for the purposes of articles 17 of the Portuguese Securities Code and 2 and 2-A of the Portuguese Securities Commission Regulation no. 5/2008, following a communication received from Barclays Plc, a company incorporated under the laws of the United Kingdom, with head office at 1 Churchill Place, London E14 5HP, United Kingdom.

Contacts:

Nuno Vieira
Investor Relations Director
[e-mail]
Tel.: [phone]
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