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Brazil likely to approve new Oi-Portugal Telecom terms -source
July 16, 2014 / 2:56 PM / 3 years ago

Brazil likely to approve new Oi-Portugal Telecom terms -source

BRASILIA, July 16 (Reuters) - Brazil’s telecommunications regulator Anatel is likely to approve the new terms of a merger between Grupo Oi SA and Portugal Telecom SGPS SA , a source at the agency said on Wednesday.

Under a new agreement, Portugal Telecom agreed to a smaller initial stake in a merged company and assumed the credit risk of a 897 million euros ($1.22 billion) debt investment it had not disclosed before the deal. (Reporting by Leonardo Goy; Writing by Brad Haynes; Editing by Jeffrey Benkoe)

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