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General

Oi and Pharol agree to end legal disputes

Wednesday 9 January 2019 | 14:35 CET | News
Brazilian operator Oi and its shareholder Pharol/Bratel have reached an agreement to end all the legal disputes between the companies, in Brazil, Portugal and elsewhere. Under the deal approved by both companies' boards, Oi will make a EUR 25 million payment and deliver 33.8 million shares to Pharol. For its part, Pharol will contribute at least EUR 25 million in the subscription to Oi's capital increase. Oi will also have the right to nominate a member to Pharol's board of directors for the current term.

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Categories: General
Companies: Oi
Countries: Brazil / Portugal
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