Portugal Telecom (PT) and Brazil’s Oi have hired investment banks BES Investimento and Pactual to analyse the possibility of greater integration of the two companies, Portuguese newspaper Jornal de Negócios reported Thursday.
The newspaper also reported that for the time being, “a merger of the companies is not on the table,” but that they were studying several scenarios for greater integration between the two companies.
PT is Oi’s biggest shareholder, owning around 25 percent of its capital and the Brazilian operator is a large investor in the Portuguese group, in which it has a 10 percent stake.
Last weekend PT issued a statement assuring the market that “there are no plans for PT to buy a controlling stake or to make an offer for Oi”.
The statement followed a report in last week’s Sol newspaper saying that integration of PT and Oi was being prepared in order to create a single large Luso-Brazilian operator. (macauhub)