Pharol prepared to reduce Oi stake

Wednesday 30 November 2016 | 16:17 CET | News
Pharol, Oi's largest shareholder with 27.49 percent of the voting rights, will accept the dilution of its stake with the entry of a new partner, a plan under consideration as part of Oi's judicial recovery process. The statement was made by Luís Palha, president of Pharol and member of the Board of Oi, reports O Globo. Palha said any dilution of Pharol's stake will depend on the value and conditions of the deal to be negotiated. He confirmed that he had been approached by funds Elliot and Cerberus. Furthermore, he does not rule out a capital injection in Oi by Pharol.

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Categories: General
Companies: Oi
Countries: Brazil
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