PT-Portugal Telecom (listed) has reduced its investment in Africa disposing of a 52.2% stake in Méditel, the Moroccan telecommunications operator for €400 million, a capital gain of €217 million 10 years after the initial acquisition. The disposal earned Portugal’s telecommunications operator €323 million. When added to the repayment of a €77 million loan made by PT the total amount booked from the disposal was €400 million. PT said it would use this on new investment in priority markets such as sub-Saharan Africa and Brazil where 46% of group revenue is earned. There have been management difficulties at Méditel for several years affecting both PT and Telefónica (Spain) which has also disposed of its 32.2% stake in Méditel for €400 million. PT has an investment in Unitel, the Angolan telecom operator (four partners, 25% stake each) where its partners are Isabel dos Santos (daughter of the head of state) and Sonangol (state, oil).  Unitel is the most profitable of PT’s investments in Africa. Apart from Angola PT has telecoms holdings in Cape Verde (40% stake in CVT/global revenues €73 million), São Tomé e Príncipe (51% of CST/ revenues €9 million) and in Namibia (34% of MTC/ revenues €106 million).

The Douro Wine Cluster has set out a three-year programme with a budget of €4.8 million, to modernize Douro wine production, making it more competitive and eco-friendly, and improving its quality. The competitiveness of Douro wine making depends on producing more wine while spending less in doing so.  Fernando Alves, executive director of ADVID–Associação para o Desenvolvimento da Viticultura Duriense, the Douro wine development association, based at Régua in the northern Douro valley, said ADVID aims to improve R&D and apply it to the entire demarcated Douro region.  ADVID will also perform basic research involving vineyard zoning,  Douro climate change impact studies, water supply management, evaluation of enological potential in defining the variety of grape to be used for producing certain wine types, organization of Douro valley cultivated vineyards and developing techniques to optimize the high cost involved in planting and maintaining vineyards on steep slopes.

The Os Mosqueteiros Group (France, Intermarche) says it is to build a new automated logistics base in central Portugal at a cost of €60 million creating 300 new jobs. It says this major distribution warehouse offers an entirely automated and innovative development in the domestic distribution market.  Tomé Lopes, Os Mosqueteiros Group chairman, unveiled the plans after opening the Paços de Ferreira fresh produce platform which cost €4.5 million and created 100 new jobs. He said: “Our ongoing developments confirm group commitment to Portugal which we consider to be a strategic market. We continue to invest in fixed assets, distribution capacity and staff as part of our long-term plans”. He said the group had earlier invested €60 million opening some 20 new outlets which created approximately 1000 jobs. The Os Mosqueteiros (Musketeers) group operates under five brands in Portugal – Intermarché and Écomarché (fresh produce supermarkets), Bricomarché (do-it-yourself, gardening, decoration, construction material), Stationmarché (vehicle repair and maintenance) and Vêti (children and family clothing outlets).