Oi-Portugal Telecom merger Calling out

Jul 1, 2014

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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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management