Nov. 17 (Bloomberg) -- Portugal Telecom SGPS SA Chief Executive Officer Zeinal Bava said he’s “confident” about the future of Brazil’s Tele Norte Leste Participacoes SA, in which Portugal’s bigggest telecommunications company holds a stake.

“It’s not going to be easy and we have to bring to bear the best we have to offer, but we remain confident about the future,” Bava said today in a Bloomberg Television interview with Andrea Catherwood.

Portugal Telecom will remain “very disciplined cost- wise,” Bava said. The company’s share price is low and “doesn’t reflect the fundamentals of the company,” he added.

To contact the reporter on this story: Anabela Reis in Lisbon at areis1@bloomberg.net

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net