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General

Pharol proposes capital hike to buy Oi shares

Friday 17 August 2018 | 12:13 CET | News
Portuguese company Pharol's shareholders will decide on 7 September whether to approve a capital increase in order to participate in the increase of Oi's share capital, reports Jornal de Negocios. Pharol held a 22 percent stake in Oi, but this position fell to 7.6 percent after the company decided not to participate in the recapitalization of the Brazilian operator through debt conversion, the first step of two capital increases provided for under the restructuring plan of the Brazilian telecom company. The second increase must be completed by the end of the year.

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Categories: General
Companies: Oi
Countries: Brazil
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