Sonae shares up 6%

 In Companies, News, Telecoms

The shares of Portugal’s multinational food retail and shopping mall giant Sonae are at their highest value after gaining in value by 6% on May 10 with the news that it had sold a 11.3% share in telecoms company NOS to Sonaecom.

The company dispersed 58,204,920 shares in a €212.6 million transaction. Sonaecom, which lost 2% in value, now holds 192,527,188 NOS shares or 37.37%.
It means that the company led by Claúdia Azevedo gained in value after selling its shares in NOS with its stock market value currently at €2Bn.