Telemar Advances Reorganization

Telemar Advances Reorganization

Brazil M&A

The boards of Telemar units Tele Norte Leste Participacoes, Telemar Norte Leste, and Brasil Telecom have approved plans for swapping Tele Norte Leste and Telemar Norte Leste shares into Brasil Telecom shares. Telemar, operator of the Oi brand, unveiled in May a plan to streamline its shareholding structure, placing seven share classes from three listed companies into one listed company. Under the plan, the shares of Telemar Norte Leste are to be incorporated into unlisted Coari Participacoes, wh

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