Brazilian telco Oi has dismissed a media report claiming that Oi and its shareholder Portugal Telecom are in merger negotiations.
The operator issued the statement in reaction to a report in Brazilian daily Folha de Sao Paulo, published earlier in the…
Brazilian telco Oi has dismissed a media report claiming that Oi and its shareholder Portugal Telecom are in merger negotiations.
The operator issued the statement in reaction to a report in Brazilian daily Folha de Sao Paulo, published earlier in the week.
It its statement, Oi said that “there are no merger negotiations between Portugal Telecom and Oi at this time”.
PT is Oi’s largest shareholder with a 23.3% stake and it is also part of a shareholder group which controls the telco alongside The Andrade Gutierrez Group and the Jereissati Group.
Ex PT CEO Zeinal Bava recently joined Oi as CEO and the companies are seeking to improve their cooperation.
In its statement, Oi repeated that the telcos “have a strategic and technological partnership through which they constantly seek out and analyze options for intensifying this industrial alliance in order to improve operations, increase international presence and leverage synergies between the two companies, especially in the engineering, technological network and service innovation areas”.
