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Lisbon -Portugal Telecom, Portugal's largest telecommunications operator, said late Tuesday it has agreed to buy a stake in the Korea´s broadband operator Hanaro Telecom for around EUR250 million.

The acquisition plan, announced earlier Tuesday is part of an effort to expand Portugal broadband services in selected Asian cities, Portugal Telecom said in a statement elaborating on the details of the plan.

By Ryan Mcloud, Asian news; +391-022-582-9906; Ryan.Mcloud@Asiannews.com