| Target: | TELESP CELULAR PARTICIPACOES S.A. | SIC Codes: | 4812 0 0 0 0 |
| Country: | Brazil | Industrial Sectors: | Telecommunications |
| Activities: | MOBILE TELECOMMUNICATIONS | ||
| Bidder: | PORTUGAL TELECOM S.A. | ||
| Country: | Portugal | SIC Codes: | 4813 4812 4814 4841 4899 |
| Activities: | FIXED-LINE/MOBILE/INTERNET SERVICES & CABLE TV | ||
| Date Announced: | 2001/05/21 | Date Completed: | 2001/09/06 |
| Deal Status: | Failed | Deal Type: | Public |
| Deal Attitude: | Friendly | Cross Border: | Yes |
| % Capital Owned: | 41.2 | % Capital Bid For: | 58.8 |
| Competitive Status: | Single bidder | ||
| Regulatory Referral: | No referral | ||
| Consideration Type: | Ordinary Shares | ||
| Deal Value (m) | Rate to STG 1.440 | Target Financials (m) | Rate to STG 3.312 | ||
| 1) USD | 2) STG | 1) REA | 2) STG | ||
| Ordinary Offer Value | 1315.193 | 913.328 | Sales | 2768.4 | 835.870 |
| Other Equity Value | 2728.224 | 1894.600 | Depreciation/Amortisation | 666.6 | 201.268 |
| Total Equity Value | 4043.417 | 2807.928 | Operating Profit | 235.4 | 71.075 |
| Net Debt | 969 | 672.917 | NPBT | -106.1 | -32.035 |
| Minorities | 0 | 0.000 | NPAT | -44.1 | -13.315 |
| Firm Value | 5012.417 | 3480.845 | Net Income | 16.8 | 5.072 |
| Shareholders Funds | 3757.3 | 1134.450 | |||
| Price Ratios | Firm Value Ratios | ||||
| Price/Sales | 3.36 | Firm Value/Sales | 4.16 | ||
| Price/NPAT | 0 | Firm Value/EBITDA | 12.78 | ||
| Price/Book | 2.48 | Firm Value/EBIT | 48.97 | ||
| Accounts Source: | RESULTS FOR 12 MONTHS TO 31/03/2001 | Reliability: | Unaudited |
| Deal Value Source: | PORTUGAL TELECOM PRESS RELEASE (21/05/2001) | Reliability: | Accurate |