Telecom Portugal SA also plans to take over 100% of external telecommunications firm Companhia Portuguesa de Radio Marconi SA before its partial privatisation in May, but it will reopen Marconi’s capital to private investors later: the government’s 51% stake in Marconi, which handles Portugal’s telecommunications links with countries outside Europe, will be transferred to Portugal Telecom; Portugal Telecom will then negotiate purchase of all privately-held shares in Marconi in return for a credit to buy a guaranteed amount of Portugal Telecom shares at a set price in the first stage of the firm’s privatisation next May; it plans to sell off an undisclosed quantity of shares in a slimmed down version of Marconi at a later stage after negotiating a strategic alliance with a foreign operator – as yet undecided, probably in late 1995 or in 1996.
