Zon may merge with Optimus

National telecommunications company Zon Multimedia will meet with Optimus on March 7 to conclude a possible merger of the two companies.

Shareholders will have their final say on whether to accept the proposal prepared by Sonaecom, the parent company of Optimus and also Público newspaper.

The decision also rests with Isabel dos Santos, an Angolan businesswoman (daughter of President of Angola Eduardo dos Santos), who is now the biggest shareholder in ZON with a 28.8% stake.

The proposed merger has already been approved by the boards of directors of both companies.

If the merger is approved at the general meeting, two further steps are required before the deal can go ahead – assessment by the Portuguese Competition Authority and the Securities Market Commission (CMVM).