RIO DE JANEIRO, March 27 Shareholders of
Brazilian telecommunications company Grupo Oi SA on
Thursday approved a capital increase needed to combine with
Portugal Telecom SA SGPS.
In a vote that took place in Rio de Janeiro, where Oi is
based, shareholders also approved an appraisal made by an
investment bank of the value of assets of Portugal Telecom, a
prerequisite for the planned combination of both companies.
Portugal Telecom and Oi have been discussing how to tie up
since Portugal Telecom bought 25 percent of Oi in 2010.
(Reporting by Luciana Bruno; Writing by Guillermo Parra-Bernal;
Editing by Jeffrey Benkoe)