Friday, 09 December 2016

Portugal Telecom cuts stake in renegotiated Oi merger

By Mary Lennighan, Total Telecom
Wednesday 16 July 14

Portuguese, Brazilian telcos renegotiate the terms of their planned merger after Rioforte defaults on debt repayment.

The merger between Portugal Telecom and Brazil's Oi is still on but the telcos have renegotiated the deal in a way that leaves the Portuguese incumbent with a smaller stake in the combined entity than previously agreed. Portugal Telecom on Wednesday confirmed that Rio Forte Investments (Rioforte) has defaulted on the repayment of &euro…

The merger between Portugal Telecom and Brazil's Oi is still on but the telcos have renegotiated the deal in a way that leaves the Portuguese incumbent with a smaller stake in the combined entity than previously agreed. Portugal Telecom on Wednesday confirmed that Rio Forte Investments (Rioforte) has defaulted on the repayment of &euro…

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