Brazilian antitrust approves Oi-Portugal Telecom merger

Brazil's Administrative Council for Economic Defense (Cade) approved without restrictions the merger of local operator Oi and Portugal Telecom, according to information published in the Official Gazette and reported by Reuters. The decision by the competition regulator supported the claims of the two companies that the merger does not generate significant vertical or horizontal concentration in the market. Oi and Portugal Telecom announced the merger in October 2013. It remains subject to approval by shareholders and a planned capital increase at Oi.

PT, Oi agree definitive merger terms

Portugal Telecom and Brazilian operator Oi have reached a definitive agreement on the steps necessary to implement their proposed merger. This will culminate in the combination of Portugal Telecom, Oi, Telemar Participacoes (TmarPart) and the Brazilian controlling shareholders of TmarPart. The merger will be preceded by a capital increase of BRL 14.1 billion at Oi, of which PT will subscribe for at least BRL 7 billion. PT shareholders will vote on its participation at an extraordinary meeting on 27 March, p

Brazilian antitrust approves Oi, Portugal Telecom merger

Brazilian operator Oi said that the country's antitrust regulator, the Administrative Council for Economic Defense (CADE), has approved, without restrictions, the merger of Oi and Portugal Telecom, announced on 2 October. The deadline for third parties to lodge appeals against the decision or for CADE's Tribunal to review the decision expired, without any objection.

Portugal Telecom-Oi merger could be concluded in April

The merger between Brazilian operator Oi and Portugal Telecom could be concluded in late April creating broad synergies, Reuters reported, citing said Zeinal Bava, the CEO of both companies. Portugal Telecom announced the merger with Oi in October 2013 to create an operator with more than 100 million customers and nearly USD 19 billion in annual sales. Synergies in the form of savings and additional sales are estimated at around EUR 1.8 billion. As part of the operation, a cash capital increase is being pre

Oi minority shareholders get backing from Brazil regulator

Brazilian securities regulator CVM ruled in a preliminary decision that Oi's controlling ownership group cannot participate in calculating the price of some assets involved in its proposed merger with Portugal Telecom, reports Bloomberg News. Oi and Portugal Telecom had planned to use asset prices approved by their biggest investors to help determine the distribution of shares in the new company. The decision represents a victory for minority shareholders in their fight for more favorable terms. If the CVM

Anacom says PT-Oi merger not to impact Portuguese market

The president of Portugal's National Communications Authority (Anacom), Fatima Barros, said that the proposed merger of Portugal Telecom with Brazilian operator Oi will not have a direct impact on the Portuguese market. Barros noted that 2013 was a year of changes in telecommunications in Portugal, pointing to the merger of Zon with Optimus and the acquisition of Oni by Cabovisao. To offset the reduction in revenues and grow in a market that has a penetration rate of 77 percent in the cable TV sector and 12

Oi provides extra details on merger with Portugal Telecom

Following requests from the Brazilian Securities Commission, Oi has provided additional information related to transactions set out in the Memorandum of Understanding for its merger with Portugal Telecom, announced on 02 October 2013. As previously stated, once the subscription period for the Oi capital increase is closed, Portugal Telecom may elect not to consummate the transactions, if PT's participation in CorpCo is equal to or less than 36.6 percent on a fully diluted basis. Additionally, Telemar Partic

Portugal Telecom, Oi agree merger

Portugal Telecom and Brazilian operator Oi have signed a memorandum of understanding on a potential merger of the two operators. The new company would combine the activities of Oi in Brazil and Portugal Telecom in Portugal and Africa, consolidating the industrial alliance agreed by the operators in 2010. The companies expect operational and financial synergies of approximately BRL 5.5 billion (EUR 1.8 billion) from the merger. The new company CorpCo would be listed both on the Bovespa exchange in Brazil and

Brazilian antitrust approves Oi-Portugal Telecom merger

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PT, Oi agree definitive merger terms