Shareholders of Portugal Telecom (PTC.LS) and Brazil's Oi (OIBR3.SA) on Monday approved the revised terms of a merger after a failed debt investment forced the Portuguese company to accept less favorable terms in the tie-up.
Portugal Telecom
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State-owned lender Caixa Geral de Depositos would be selling a 6.11% stake in telecommunications firm Portugal Telecom.
The ownership structure of the new merged firm between Oi SA and Portugal Telecom would be simple, compared to the previous structure.
Portugal Telecom announced in a statement that it would be merging with Brazilian telecom company Oi.
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