Portugal Telecom SGPS SA (Portugal Telecom) is a Portugal-based holding company primarily engaged in the telecommunications sector. The Company, together with its subsidiaries, provides a range of telecommunications and multimedia services, such as fixed line and mobile telecommunication, pay television (TV) distribution, Internet Service Provider (ISP) services and data transmission. Additionally, it is active in the operation of call centers, telemarketing services, as well as provision of information technology (IT) systems and services. Together with its subsidiaries, the Company is active in Portugal, Brazil and several other countries in Africa and Asia. The Company operates through a numerous subsidiaries, including Africatel Holdings BV, Portugal Telecom Brasil SA, PT CENTRO CORPORATIVO SA, Portugal Telecom International Finance BV and Portugal Telecom Europa SPRL, among others. It announced the withdrawal of its bid for Portugal Telecom.