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Self-made billionaire bids for Portugal Telecom
Reuters

07-02-2006 14:50

Feb 7 (Reuters) - Portuguese conglomerate Sonae ,
controlled by billionaire Belmiro de Azevedo, launched a
surprise 10.7 billion-euro ($12.8 billion) bid for far larger
Portugal Telecom (PT) late on Monday -- the biggest
offer ever made for a Portuguese company.
Following are some facts about the Azevedo, Sonae's chief
executive and Portugal's richest man:
*Son of a carpenter in northern Portugal, Azevedo, 68,
worked his way through college to complete a degree in chemical
engineering at the University of Oporto and an advanced
management programme at Harvard University in the United States.
*He joined Sonae, then a small wood products producer, in
1965 and quickly became chief executive.
*In the 1980s he led the company through its fastest period
of growth and diversification by launching the first hypermarket
chain in Portugal.
*Azevedo owns 52.94 percent of Sonae, which has a market
capitalisation of 2.3 billion euros ($2.72 billion). Its
holdings include wood products, real estate investments,
communications, shopping centres, a daily paper and a radio
station.
*Azevedo is worth an estimated 1.7 billion euros ($2
billion) and was ranked 387th in Forbes' 2005 list of the
World's Richest People.
*"This is the biggest deal of my life," Azevedo told a local
newspaper after his company announced the takeover bid.