Sunday, 04 December 2016

Portugal Telecom stands by CFO, narrows his role

By Mary Lennighan, Total Telecom
Monday 14 July 14

Portuguese telco's acquisition of Rioforte debt constitutes a hurdle in its plans to merge with Brazil's Oi.

As industry watchers debate the future of Portugal Telecom's proposed merger with Oi following revelations about its recent financial activities, the Portuguese incumbent has indicated its chief financial officer will retain his post and will focus exclusively on furthering the consolidation of the two businesses. Luís Pacheco de Melo will continue in his role as CFO and as a member of Portugal Telecom's executive board…

As industry watchers debate the future of Portugal Telecom's proposed merger with Oi following revelations about its recent financial activities, the Portuguese incumbent has indicated its chief financial officer will retain his post and will focus exclusively on furthering the consolidation of the two businesses. Luís Pacheco de Melo will continue in his role as CFO and as a member of Portugal Telecom's executive board…

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