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Monday, November 3, 2014

Deals of the day- Mergers and acquisitions, (NYSE: OIBR)

The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Monday:** Altice SA said it made a fully financed offer to purchase the Portuguese assets of Portugal Telecom from Oi SA . It said the offer valued the assets at an enterprise value of 7.025 billion euros ($8.78 billion) on a cash and debt-free basis.

Oi SA, formerly Brasil Telecom SA, is a Brazil-based holding company engaged in the provision of Switched Fixed-line Telephony Services (STFC) domestically and internationally. Shares of OIBR traded higher by 6.06% or $0.0321/share to $0.56. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 11796500 shares of OIBR exchange hands on a given day and today's volume is recorded at 2679376.