Minority shareholders fail to block Oi merger vote

27 Mar 2014

Brazil’s securities watchdog CVM has rejected a move by a group of minority investors of wireless operator Oi to block today’s planned shareholder assembly. As reported by CommsUpdate earlier this week, the group, led by Tempo Capital, petitioned CVM to step in and stop the meeting, claiming that larger shareholders did not have the right to vote on the proposed merger of Oi and its main investor Portugal Telecom (PT). Minority shareholders say the terms of the deal favour larger investors and that those with smaller interests will lose out through the dilution of their stakes. Oi shareholders are to vote today on the financial terms of the merger.

Brazil,Oi SA (incl. Telemar Norte Leste, Brasil Telecom), Portugal Telecom (PT),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share