Brazil regulator suspends Oi shares offer for 30 days

BRASILIA, March 27 Thu Mar 27, 2014 6:41pm EDT

BRASILIA, March 27 (Reuters) - Brazils securities regulator on Thursday suspended the offer of shares of telecommunications company Grupo Oi SA saying its chief executive officer Zeinal Bava had breached a mandatory quiet period ahead of the offer by making comment to the press.

The suspension will last 30 days, the Securities and Exchanges Commission said.

The planned combination of Oi and Portugal Telecom advanced earlier on Thursday when shareholders of the Brazilian carrier approved a capital increase that will facilitate the merger. (Reporting by Anthony Boadle. Editing by Andre Grenon)

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