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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

 
FORM 6-K
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
 
For the month of October, 2003

Commission File Number 1-13758
 

 

PORTUGAL TELECOM, SGPS, S.A.
(Exact name of registrant as specified in its charter)
 

Av. Fontes Pereira de Melo, 40
1069 - 300 Lisboa, Portugal
(Address of principal executive office)
 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

 Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  

Yes _______ No ___X____


 

RELEASE

TCP LAUNCHES A TENDER OFFER TO ACQUIRE
THE COMMON SHARES OF TCO

Lisbon, Portugal, October 9, 2003 – Portugal Telecom, SGPS, S.A. (“PT”) (NYSE: PT; Euronext Lisbon: PTCO.IN) today announced that following the acquisition of the control of Tele Centro Oeste Participações S.A. (“TCO”) by Telesp Celular Participações S.A. (“TCP”) and according to the release of September 26, 2003, TCP has launched a tender offer to acquire the remaining 43,385,533,827 common shares of TCO.

TCP is one of the companies that constitutes Vivo, the 50/50 joint venture between Portugal Telecom and Telefónica for mobile operations in Brazil.

The offering price of R$ 16.58 per 1,000 shares represents 80% of the price paid to the former controlling shareholder on September 23, 2003. This value will be updated through to the date of the auction, in accordance with the tender offer announcement published today.

Investors may place their selling orders starting today, October 9, 2003, through 6:00 p.m. (São Paulo time) of November 11, 2003.

The auction will take place at the headquarters of S. Paulo Stock Exchange - BOVESPA- on November 18, 2003 at 4:00 p.m.. The financial settlement will be effected via gross settlement according to the current Brazilian legislation.

This release is also available on PT’s IR website http://ir.telecom.pt and additional information on www.vivo-sp.com.br.

Contact: Vitor J. Sequeira, PT Group Investor Relations Officer
vitor.j.sequeira@telecom.pt

Portugal Telecom
Tel.: +351.21.500.1701
Fax: +351.21.355.6623



Portugal Telecom is listed on the Euronext Lisbon and New York Stock Exchanges. Information may be accessed on the Reuters 2000 Service under the symbols PT and PTCO.IN and on Bloomberg under the symbol PTC PL.


 
SIGNATURE
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: October 9, 2003

 
PORTUGAL TELECOM, SGPS, S.A.
By:
/S/  Vitor Sequeira

 
Vitor Sequeira
Manager of Investor Relations
 

 

 
FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.