Portugal Telecom, Brazil's Oi Strike Merger Deal

Law360, New York (October 2, 2013, 11:19 AM EDT) -- Portugal Telecom SGPS SA agreed on Wednesday to merge with Oi SA to form a new telecommunications operator in Brazil, a deal that is expected to save the companies €1.8 billion ($2.4 billion) and boost their presence in Portuguese speaking countries.

This deal has been roughly three years in the making, consolidating a partnership started in 2010 between the two companies. The new company will be a multinational corporation based in Brazil, poised to take on a leading position in Portugal and Brazil, PT said....
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