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Venaxis, Inc. Message Board

dgefashion 1 post  |  Last Activity: Oct 31, 2014 11:56 AM Member since: Jan 21, 2009
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  • LONDON – Regulators in Portugal and Britain have temporarily banned short-selling of Portugal Telecom’s stock after the company’s shares declined to a record low on Monday over its exposure to a company with ties to the Espírito Santo family.

    The Portuguese securities regulator, the Comissão do Mercado de Valores Mobiliários, temporarily restricted short-selling of Portugal Telecom late Monday, citing the company’s 10 percent drop in its share price that day.

    The Financial Conduct Authority of Britain followed suit, adopting a short-selling ban that runs through 11:59 p.m. local time on Tuesday.

    The telecom provider’s shares have been under pressure since Rioforte Investments, a unit of Espírito Santo International, was denied creditor protection by a court in Luxembourg on Friday.

    Portugal Telecom holds about 897 million euros, or about $1.15 billion, of Rioforte’s debt.

    Financial struggles at Espírito San

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