Oi, PT Ready Merger, Capital Raise
Portugal Telecom (PT) and Brazil’s Oi have agreed to merge, the two say, in a transaction that will hinge on the market providing a capital increase of at least BRL5bn ($2.28bn). The deal is motivated by synergies – though analysts are skeptical about the savings involved – and a simplification of Oi’s shareholding structure. In the transaction, PT shareholders will come away with 38% of the combined company, and Oi’s holders 62%. The new Brazil-based entity combining PT...
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