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UPDATE 6-Oi, Portugal Telecom combine to battle bigger rivals

2013-10-03 05:47:06| IT Services - Topix.net

Brazil's Grupo Oi SA, facing growing competition from foreign telecom carriers, will combine with Portugal Telecom SGPS SA to form a new company with more than 100 million subscribers and almost $19 billion in annual revenue.

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Oi, Portugal Telecom combine to battle bigger rivals

2013-10-03 02:06:57| Telecom - Topix.net

A woman stands next to the logo of Brazil's largest fixed-line telecoms group Oi, inside a shop in Sao Paulo October 2, 2013.

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Portugal Telecom, SGPS, S.A. and Oi S.A. announce they have executed...

2013-10-02 14:28:04| Telecom - Topix.net

In compliance with the provisions of art. 157, Section 4 of Law No. 6,404/76 and in accordance with CVM Instruction No.

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Portugal Telecom, Oi agree merger

2013-10-02 09:52:00| Telecompaper Headlines

(Telecompaper) Portugal Telecom and Brazilian operator Oi have signed a memorandum of understanding on a potential merger of the two operators. The new company would combine the activities of Oi in Brazil and Portugal Telecom in Portugal and Africa, consolidating the industrial alliance agreed by the operators in 2010. The companies expect operational and financial synergies of approximately BRL 5.5 billion from the merger. The new company CorpCo would be listed both on the Bovespa exchange in Brazil and Euronext in Lisbon, helping to increase liquidity and diversify the shareholder base. No single shareholder or group of shareholders would have a controlling stake. Zeinal Bava, CEO of Portugal Telecom from 2008 to 2013 and current CEO of PT Portugal and of Oi, will be CEO of the new company. On a prof forma basis, the merged group had pro forma revenues of BRL 37.5 billion in 2012, EBITDA of BRL 12.8 billion and operating cash flow of BRL 4.2 billion and served over 100 million customers.

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