Brazilian telecommunications company Oi SA said on Monday it supported a decision by shareholders of merger partner Portugal Telecom SGPS SA to postpone a shareholder assembly to approve a 7.4 billion euro ($8.8 billion) asset sale. Oi said in an emailed statement that it supported the decision to delay a vote on the deal with telecom group Altice SA in order to provide more information requested by Portuguese securities regulator CMVM.
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 fell by 9.34% or $-0.24/share to $2.33. In the past year, the shares have traded as low as $0.40 and as high as $19.70. On average, 1046690 shares of OIBR exchange hands on a given day and today's volume is recorded at 2266055.
Shares of OIBR-C fell by 8.73% or $-0.24/share to $2.51. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 41164.
Portugal Telecom SGPS SA (Portugal Telecom) is a Portugal-based holding company primarily engaged in the telecommunications sector. Shares of PT remained unchanged at $0.90. In the past year, the shares have traded as low as $0.79 and as high as $4.84. On average, 996841 shares of PT exchange hands on a given day and today's volume is recorded at 0.
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