Exhibit 2.10  PRICING SUPPLEMENT  15 June 2005  Portugal Telecom International Finance B.V.  (a private company with limited liability incorporated under the laws of The Netherlands and having its statutory seat in Amsterdam, The Netherlands) Issue of 500,000,000 4.5 per cent. Notes due 16 June 2025 under the 5,000,000,000 Global Medium Term Note Programme  This document constitutes the Pricing Supplement relating to the issue of Notes described herein.  Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Offering Circular dated 12 July 2004. This Pricing Supplement must be read in conjunction with such Offering Circular.  1.

(i)
Series Number:

19(ii)
Tranche Number:

12.

Specified Currency   or Currencies:

Euros ()3.

Aggregate Nominal   Amount:
Tranche:

500,000,000
Series:

500,000,0004.

Issue Price of   Tranche:

99.740 per cent.5.

Specified   Denominations:

The Specified   Denomination of the Notes shall be 50,000 provided that, for so long as the   Notes are represented by a Global Note and the relevant clearing   system(s) so permit, the Notes shall be tradeable in minimum nominal   amounts of 50,000 and integral multiples of 1,000 thereafter.If Definitive Bearer   Notes are required to be issued in the limited circumstances specified in the   Permanent Global Note they will only be printed and issued in denominations   of 50,000.Accordingly, if   Definitive Bearer Notes are required to be issued, a Noteholder holding Notes   having an original nominal amount which cannot be fully represented by   Definitive Bearer Notes in the denomination of 50,000 will not be able to   receive a Definitive Bearer Note in respect of the original nominal amount of   the Notes by which the original nominal amount of such holding of Notes   exceeds the next lowest integral multiple of 50,000, the (Excess Amount) and will not be able to  1


receive interest   or principal in respect of the Excess Amount. Furthermore, at any meetings of   Noteholders while Notes are represented by a Bearer Global Note any vote cast   shall only be valid if it is in respect of 50,000 in nominal amount and no   vote may be cast in respect of any smaller nominal amount.6.

Issue Date and   Interest Commencement Date:

16 June 20057.

Maturity Date:

16 June 20258.

Interest Basis:

4.5 per cent.   Fixed Rate
(further   particulars specified below)9.

Redemption/Payment   Basis:

Redemption at par10.

Change of Interest   Basis or Redemption/ Payment Basis:

Not Applicable11.

Put/Call Options:

Not Applicable12.

Listing:

Application has   been made for the Notes to be listed on the Official List of the Financial   Services Authority as competent authority under the Financial Services and   Markets Act 2000 and to be admitted to trading on the London Stock Exchange   plcs market for listed securities13.

Method of   distribution:

Non-syndicatedPROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE14.

Fixed   Rate Note Provisions

Applicable(i)
Rate of Interest:

4.5 per cent. per   annum payable in arrear(ii)
Interest Payment   Date(s):

16 June in   each year from and including 16 June 2006 to and including the Maturity   Date(iii)
Fixed Coupon   Amount(s):

2,250 per 50,000   in nominal amount(iv)
Broken Amount(s):

Not Applicable(v)
Day Count   Fraction:

Actual/Actual   (ISMA)(vi)
Determination   Date(s):

16 June in   each year(vii)
Other terms   relating to the method of calculating interest for Fixed Rate Notes:

Not Applicable15.

Floating   Rate Note Provisions

Not Applicable  2


16.

Zero   Coupon Note Provisions

Not Applicable17.

Index   Linked Interest Note Provisions

Not Applicable18.

Dual   Currency Note Provisions

Not ApplicablePROVISIONS RELATING TO REDEMPTION19.

Issuer Call

Not Applicable20.

Investor Put

Not Applicable21.

Final Redemption   Amount

Par22.

Early Redemption   Amount(s) payable on redemption for taxation reasons or on event of   default and/or the method of calculating the same (if required or if   different from that set out in Condition 7(e)):

ParGENERAL PROVISIONS APPLICABLE TO THE NOTES23.

Form of   Notes:

Temporary Bearer   Global Note exchangeable for a Permanent Bearer Global Note which is   exchangeable for Definitive Notes only upon an Exchange Event.24.

Additional   Financial Centre(s) or other special provisions relating to Payment   Dates:

Not Applicable25.

Talons for future   Coupons or Receipts to be attached to Definitive Bearer Notes (and dates on   which such Talons mature):

No26.

Details relating   to Partly Paid Notes: amount of each payment comprising the Issue Price and   date on which each payment is to be made and consequences (if any) of failure   to pay, including any right of the Issuer to forfeit the Notes and interest due   on late payment:

Not Applicable27.

Details relating   to Instalment Notes:(i)
Instalment   Amount(s):

Not Applicable(ii)
Instalment   Date(s):

Not Applicable28.

Other terms or   special conditions:

Not Applicable29.

Redenomination:

Redenomination not   applicable  3


DISTRIBUTION30.

(i)
If syndicated,   names of Managers:

Not Applicable(ii)
Stabilising   Manager (if any):

Not Applicable31.

If non-syndicated,   name of relevant Dealer:

Citigroup Global   Markets Limited32.

Netherlands/worldwide   selling restrictions:

The Notes   (including rights representing an interest in a Note in global form) may only   be offered anywhere in the world,   as part of their initial distribution or as part of any re-offering, and this   Pricing Supplement may only be distributed and circulated, and any offer of   the Notes shall only be announced in writing (whether electronically or   otherwise) anywhere in the world,   to individuals or legal entities who or which trade or invest in securities   in the conduct of a business or profession (Professional Investors, which includes banks, securities   intermediaries (including dealers and brokers), insurance companies, pension   funds, collective investment institutions, central governments, large   international and supranational organisations, other institutional investors   and other parties, including treasury departments of commercial enterprises,   which as an ancillary activity regularly trade or invest in securities),   provided that the Manager has undertaken with the Issuer that it will be made   clear/mentioned upon making any such offers and from any and all documents or   advertisements in which the forthcoming offering of the Notes is publicly   announced anywhere in the world,   that the offer is exclusively made to such Professional Investors.33.

Additional selling   restrictions:

Not ApplicableOPERATIONAL INFORMATION34.

Any clearing   system(s) other than Euroclear, Clearstream, Luxembourg or The   Depository Trust Company:

Not Applicable35.

Delivery:

Delivery against   payment36.

Additional Paying   Agent(s) (if any):

Not Applicable  4


ISIN:

XS0221854200Common Code:

022185420  LISTING APPLICATION  This Pricing Supplement comprises the details required to list the issue of Notes described herein to be admitted to the Official List and to trading by the London Stock Exchange plc pursuant to the listing of the 5,000,000,000 Global Medium Term Note Programme of Portugal Telecom International Finance B.V.  RESPONSIBILITY  The Issuer hereby accepts responsibility for the information contained in this Pricing Supplement.  Signed on behalf   of the Issuer:By:Duly   authorised  5