Oi SA increase Portugal Telecom stake to 10%

1 Jun 2012

Dow Jones Newswires reports that Brazilian telecommunications operator Oi SA has increased its equity stake in Portugal Telecom (PT) to 10%. In a filing, the Portuguese group confirmed that Oi purchased 25.1 million shares on the open market between 4 April and 24 May, via its Telemar Norte Leste unit, increasing its holding to 89.7 million shares.

TeleGeography notes that PT holds a 25% stake in Oi, which was formed through the restructuring of Telemar Participacoes’ former operating divisions Brasil Telecom, Tele Norte Leste Participacoes, Coari Participacoes and Telemar Norte Leste. The Portuguese telco acquired the stake in 2011.

Portugal, Oi, Pharol (formerly Portugal Telecom SGPS [PT SGPS]), PT Portugal (MEO)