Portugal Telecom, SGPS S.A. (“PT”) informs that Brandes Investment Partners, L.P. (“Brandes”) now holds less than 5% of the voting rights corresponding to the share capital of PT.
As informed by Brandes, on 23 August 2010, Brandes’ clients owned 32,494,734 PT ordinary shares and 12,283,682 PT American Depositary Receipts (representing 12,283,682 PT ordinary shares), which, in total, represent approximately 4.99% of the voting rights corresponding to the share capital of PT (the “Shares”).
Brandes further informed that such holding is attributed to Brandes as this entity is authorised to exercise the voting rights corresponding to the PT shares it has acquired on behalf of its investment management clients.
This statement is pursuant to the terms and for the purposes of article 17 of the Portuguese Securities Code, following information received from Brandes, with registered office at 11988 El Camino Real, Suite 500, P.O. Box 919048, San Diego, CA 92191-9048, USA.