January 10, 2019 |
Brazil's said it has settled a legal dispute with Bratel, a subsidiary of Portuguese telecommunications company Pharol, by paying €25m ($28.9m) and transferring 33.8m shares.
Pharol, in turn, has agreed to invest at least €25m in Oi as part of the Brazilian telecom's restructuring plan. It has also allowed Oi to name a member to Pharol's board of directors.
Most of Oi's shareholders accepted equity stakes in the company as payments for outstanding debts in March last year, but Pharol opposed t
Brazilian telecom agrees to pay $29m and transfer 34m shares to its Portuguese shareholder