Portugal Telecom (PTC.LS) said on Wednesday it had signed the necessary contracts to seal the purchase of a 22.38 percent minimum direct and indirect stake in Brazil's main fixed-line phone carrier Oi (TNLP4.SA) for 8.32 billion reais ($4.98 billion). The deal, drafted last July, effectively means the return of Portugal Telecom as a major player to fast-growing Brazil after it sold its stake in Brazil's top mobile firm Vivo (VIVO4.SA) to Spain's Telefonica (TEF.MC) for 7.5 billion euros last year. "PT informs that it has signed the definitive sales and purchase, subscription and shareholders agreements with Oi and its controlling shareholders ... The Oi transaction is expected to close up to the end of March 2011," PT said in a statement.
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