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Slide #54. Portugal Telecom, SGPS, S.A. — Oi S.A.
Portugal Telecom, SGPS, S.A.
Oi S.A. (OIBR)
In compliance with the provisions of art. 157, Section 4 of Law No. 6,404/76 (the "Brazilian Corporations Law") and in accordance with CVM Instruction No. 358/02, Oi S.A. ("Oi", Bovespa: OIBR3, OIBR4; NYSE: OIBR and OIBR.C) informs its shareholders and the market in general that, on this date, Oi, Portugal Telecom SGPS S.A. ("Portugal Telecom"), AG Telecom Participacoes S.A. ("AG"), LF Tel SA ("LF"), PASA Participacoes S.A. ("PASA"), EDSP75 Participacoes S.A. ("EDSP 75"), Bratel Brasil S.A. ("Bratel Brasil"), and also certain shareholders of Portugal Telecom, in particular, Avistar, SGPS, S.A. and Nivalis Holding B.V. entered into a Memorandum of Understanding ("Memorandum of Understanding") which established the basis and principles that will govern the negotiations of a potential transaction involving Portugal Telecom, Oi and some of their controlling shareholders to form a combined entity ("CorpCo"), which will unite the shareholders of Oi, Portugal Telecom and Telemar Participacoes S.A. ("TelPart") and combine the activities and businesses developed by Oi in Brazil and Portugal Telecom in Portugal and Africa, with the intention of consolidating the industrial alliance between Oi and Portugal Telecom that was established in 2010 and developed since that date (the "Industrial Alliance") which will permit the acceleration of the development of Oi in Brazil, leverage and enhance the innovation capacity of Portugal Telecom and crystallize the value of synergies (the "Transactions").
Sell (1.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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