Provided by MZ Data Products
 
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 November, 2003

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 _______

 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 _______ No ___X____

 

RELEASE

TCP SHARE CAPITAL INCREASE WITHIN THE MERGER OF TCO SHARES INTO TCP

Lisbon, Portugal, November 25, 2003 - Portugal Telecom, SGPS, S.A. (“PT”) (Euronext: PTCO.IN; NYSE: PT) informs that following the completion of the tender offer to acquire the common shares of Tele Centro Oeste Celular Participações, S.A. (“TCO”) and the implementation of the merger of TCO shares into Telesp Celular Participações, S.A. (“TCP”), TCP’s share capital will increase R$ 1,012,907,956.77, from R$ 4,373,661,469.73 to R$ 5,386,569,426.50.

TCP will issue a total of 335,211,939.758 shares, of which 14,198,232,698 are common shares and 321,013,707,060 are preferred shares. TCP’s share capital, after the conversion of preferred shares into common shares as in the tender offer announcement published on November 20, 2003 and the merger of TCO shares into TCP, will be represented by 1,506,996,292,267 shares, of which 502,334,815,006 are common shares and 1,004,661,477,261 are preferred shares.

The exchange ratio was fixed at 1.27 TCP common shares per each TCO common share and 1.27 TCP preferred shares per each TCO preferred share.

This information is also available on PT’s IR website http://ir.telecom.pt and additional information is available on www.vivo-sp.com.br.

Contact: Vitor J. Sequeira, PT Group Investor Relations Officer
vitor.j.sequeira@telecom.pt

Portugal Telecom
Tel.: +351.21.500.1701
Fax: +351.21.355.6623


Portugal Telecom is listed on the Euronext Lisbon and New York Stock Exchanges. Information may be accessed on the Reuters 2000 Service under the symbols PT and PTCO.IN and on Bloomberg under the symbol PTC PL.

 
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: November 25, 2003

 
PORTUGAL TELECOM, SGPS, S.A.
By:
/S/  Vitor Sequeira
 
Vitor Sequeira
Manager of Investor Relations
 

 

 
FORWARD-LOOKING STATEMENTS

This press release 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.