CALDEIRÃO DE BOLSA

PT: Competition Authority may impose copper-pair and cable networks separation

30/11/2004 11:30

Rating: ACCUMULATE
Closing Price: EUR 8.95
Price Target: 10.30

According to Diario Economico, the Competition Authority (CA), amidst its analysis of the Portuguese telecoms market, may decide to impose to PT the separation of the copper-pair and cable networks, opposing to Anacom´s deliberation. If this happens, the next step should imply an appeal to the court by the interested parties. (Diario Economico)


Comment
Impact: Negative news, bringing once again regulatory pressure over PT. CA is expected to finish its telecoms market analysis by 1H05 so we should have further news by then. We recall that contradictory conclusions from Anacom and CA may happen because they have different competencies: while Anacom is an ex-ante regulator, the CA acts as an ex-post authority.

Ricardo Pimentel Seara, CFA (ricardo.pimentel.seara@bpi.pt) Flora Trindade (flora.mericia.trindade@bpi.pt)

Bem, e a ptc apesar de não estar com uma enorme força nem se portar particularmente bem, não deixa de se manter num upswing, para já (lá vai fazendo novos máximos diáriamente, pelo menos). Confesso que gostaria muito mais de a ver com um pouco mais força, mas para já não há qualquer razão para eu stopar o meu trade.