Oi denies encouraging bid from Portugal Telecom

23 Jul 2010

Brazilian mobile phone company Oi has denied a report saying it would welcome Portugal Telecom (PT) as a minority shareholder. The cellco’s press office stated that a story published yesterday in a local newspaper incorrectly linked comments made by Investor Relations Director Alex Zornig with PT. There has been widespread speculation that PT will look to buy a stake in another Brazillian mobile operator after Telefonica submitted an offer to buy PT’s stake in Vivo.

Brazil, Oi, PT Portugal (MEO)