Brazil competition watchdog approves Oi, Portugal Telecom merger

RIO DE JANEIRO Tue Jan 14, 2014 4:53am EST

RIO DE JANEIRO Jan 14 (Reuters) - Brazil's competition watchdog Cade has approved the merger of Grupo Oi SA and Portugal Telecom SGPS SA with no restriction, according to a decision published in the country's official gazette on Tuesday.

The two telecom carriers announced in October plans to combine their operations to form a new company with more than 100 million subscribers and almost $19 billion in annual revenue. (Reporting by Walter Brandimarte; Editing by Mark Potter)

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