Portugal Telecom:PT Portugal SGPS SA (also known as Portugal Telecom or PT) is the largest telecommunications service provider in Portugal. Since June 2, 2015, PT Portugal is a wholly owned subsidiary of Altice Group, a multinational cable and telecommunications company with a presence in France, Israel, Belgium & Luxembourg, Portugal, French West Indies/Indian Ocean Area and Dominican Republic (“Overseas Territories”) and Switzerland. Its assets in Portugal were sold to Altice in 2015 in a move of its owner, Oi SA, to reduce debt. The African assets were mostly sold for the same reason. Portugal Telecom, SGPS SA was split in separate companies: PT Portugal (owned by Altice) and Pharol (formerly PT SGPS), which owns a 27,5% stake in Oi.