Zon Multimedia SGPS SA rose as much as 1.3 percent after shareholder Isabel dos Santos increased her stake in Portugal’s biggest cable-television provider to 14.9 percent.
Zon rose as much as 3 euro cents at 8:07 a.m. in Lisbon. The gain was the biggest in Portugal’s benchmark PSI-20 Index, which rose 0.1 percent.
Dos Santos agreed to buy 4.9 percent of the Zon through her Amsterdam-based holding company Jadeium, adding to the 10 percent stake she already controlled through Kento Holding Ltd., Lisbon-based Zon said in a regulatory filing yesterday.
Isabel dos Santos, the daughter of Angolan President Jose Eduardo dos Santos, is now Zon’s biggest shareholder, according to data compiled by Bloomberg.