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General

Portugal Telecom, Oi preparing merger - report

Monday 24 June 2013 | 11:01 CET | News
Portugal Telecom and Brazil's Oi are working on a merger. The process is being negotiated by the controlling shareholders of the two telecommunications operators, according to Brazilian daily Folha de Sao Paulo. The paper claims that a decision has already been reached to join forces in order to create an operator present in the Portuguese-speaking countries with 101 million customers and annual revenues of BRL 64 billion. The business model has yet to be defined, but a purchase of Oi by Portugal Telecom in an all-stock transaction is likely. However, the paper added that there are risks of

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Categories: General
Companies: Oi / Portugal Telecom
Countries: Brazil / Portugal
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