PT SGPS changes name to Pharol SGPS

2 Jun 2015

Shareholders of Portuguese holding company Portugal Telecom SGPS (PT SGPS) voted to change the company’s corporate name to Pharol SGPS at the firm’s annual general meeting (AGM) on 29 May. Other amendments approved at the AGM include: an adjustment for each share to correspond to one vote; a reorganisation of the company’s governance model, which is now composed by a board of directors and a fiscal council; and the creation of a monitoring committee.

According to TeleGeography’s GlobalComms Database, the Lisbon-based firm classifies its chief material asset as its direct and indirect 27.5% ownership stake (26.4% voting stake) in Brazilian telco Oi SA.

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