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Report: PT to increase stake in UOL to 28%

Bnamericas
Portugal Telecom (NYSE: PT) will increase its stake in Brazilian Internet service provider (ISP) Universo Online (UOL) to 28% from 18%, the Investnews news ageny quoted PT president Miguel Horta e Costa as saying. The purchase is a result of the decision by Brazilian media group Editora Abril to exit the company. Another Brazilian media group, Folhapar, owns the other 72%. UOL was launched in April 1996, and has 1.2 million customers in Brazil and Argentina.

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