Brazilian telecoms firm Oi and Portugal Telecom, which had
been in a strategic alliance since 2010, agreed to merge in
October 2013. PT’s shareholders would end up with
38% of the new company and Oi’s shareholders, with
62%. The transaction was contingent on a large capital
increase. PT subscribed to the deal with assets, while
shareholders of Oi’s controller Telemar also
agreed to put in capital. The rest — at least 5
billion reais ($2.2...
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