July 3, 2014 / 9:50 AM / 4 years ago

Brazil's Oi says was not informed of Portugal Telecom investment

LISBON, July 3 (Reuters) - Brazil’s Oi said on Thursday it had not been informed of Portugal Telecom’s decision to invest in debt issued by holding company Rioforte and will take the necessary measures to defend its interests.

“Oi has already requested additional clarification from Portugal Telecom and it will analyse the information it receives and will take the necessary measures to defend its interests, maintaining its shareholders and the market informed about the matter,” Oi said in a statement to Brazil’s market regulator.

Oi and Portugal Telecom are in the process of combining assets.

Portugal Telecom said last week it had bought 897 million euros of commercial paper issued by Rioforte, a holding company of Portugal’s Espirito Santo banking family. The family has come under scrutiny recently due to financial irregularities at another holding company, which owns Rioforte.

The commercial paper matures later in July. (Reporting By Axel Bugge, editing by Andrei Khalip)

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