SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

 

For the month of October 2007

Commission File Number 1-13758

 

 

PORTUGAL TELECOM, SGPS, S.A.

(Exact name of registrant as specified in its charter)

 

Av. Fontes Pereira de Melo, 40
1069 - 300 Lisboa, Portugal

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F    x    Form 40-F    o   

 

 Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes    o    No    x   

 

 

ANNOUNCEMENT

 

 

 

 

 

Portugal Telecom, SGPS, S.A.
Open Company
Registered Offices: Avenida Fontes Pereira de Melo, 40, Lisbon
Share Capital: Euro 33,865,695
Registered in the Conservatory of the Commercial Registry of Lisbon and
Collective Person under no. 503 215 058

 

Qualified Holding

 

Pursuant to the terms and for the purposes of article 17 of the Portuguese Securities Code, we hereby inform that Paulson & Co. Inc. (“Paulson”), a company incorporated under the laws of Delaware, with offices in London and head office at 590 Madison Avenue, New York, New York 10022 (USA), notified Portugal Telecom, SGPS, S.A. (“PT”) that, pursuant to transactions conducted over the counter, on 18 October 2007, 23,667,057 PT ordinary shares which voting rights were attributable to Paulson and held on behalf of onshore and offshore funds and separately managed accounts to which Paulson furnishes investment advice, were sold and thus Paulson’s holding is now less than 2% of the voting rights in PT.

 

Lisbon, 23 October 2007

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: October 23, 2007

 

 

	PORTUGAL TELECOM, SGPS, S.A.
	By:	/s/ Nuno Prego
		Nuno Prego Investor Relations Director

 

 

 

 

FORWARD-LOOKING STATEMENTS

 

This document may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.