Brazil's telecommunications regulator on Friday said it has approved Portugal Telecom SGPS S/A's (PT, PTC.LB) plan to take a stake in Brazil's Tele Norte Leste Participacoes S/A (TNE, TNLP4.BR), or Oi.

The approval was communicated by Ronaldo Sardenberg, president of the regulator, Anatel.

Sardenberg was discussing other decisions by Anatel's board before tackling the details of the Portugal Telecom decision. Some press reports earlier Friday suggested Anatel might impose some restrictions on the purchase.

-By Rogerio Jelmayer and Matthew Cowley, Dow Jones Newswires; +55 11 3544 7082; matthew.cowley@dowjones.com
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