PT-Oi deal could be completed by end-April

28 Jan 2014

Zeinal Bava, the chief executive of Portugal Telecom (PT) and its Brazilian operation Oi, has revealed that he is expecting the merger between the two firms to be completed by the end of April. ‘The focus is to complete the merger, which may take place at the end of April or some time in the second quarter,’ Reuters quotes him as saying. As reported in CommsUpdate earlier this month, Brazil’s competition watchdog Cade has ruled that the proposed merger can go ahead as planned, with no restrictions being placed on the deal. The two firms announced last October that PT would be merged into Oi in order to strengthen the Brazilian firm and simplify its ownership structure, while also helping to shore up PT’s operations in its domestic market. The combined entity will have more than 100 million subscribers in Europe and Latin America, with annual revenues of around USD19 billion.

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