July 14, 2014 / 10:45 PM / in 4 years

Brazil minister sees Oi revisiting Portugal Telecom merger terms

BRASILIA, July 14 (Reuters) - Shareholders of Grupo Oi SA are likely to revisit terms of a merger with Portugal Telecom SPGS SA if the latter’s debt investments with troubled Banco Espírito Santo SA end up in default, Brazilian Communications Minister Paulo Bernardo said on Monday.

Shareholders of the Brazilian telecommunications company, which include state development bank BNDES, could also seek to revisit the stakes that partners would have in the combined company in the event of a default, Bernardo said.

Despite the situation, Bernardo does not believe a planned merger of Oi and Portugal Telecom is at risk. (Writing by Guillermo Parra-Bernal; Editing by Chris Reese)

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