PT shareholders voted Friday against lifting the ban on any entity owning more than 10% of PT equity. It is a blow to Sonae/ Sonaecom bid to take over PT for about $20bn. They cannot legally hold the 50%+ of PT shares needed to take control, and so openly acknowledged that its bid is over.
According to local newspapers, Sonaecom is now considering a merger with Vodafone Portugal. Business is business.