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Brazil to probe Oi-Portugal Telecom merger, Valor says

2016-02-02 16:58:55| IT Services - Topix.net

Feb 2 Brazil's securities industry watchdog is poised to launch an investigation into Oi SA's acquisition of Portugal Telecom SGPS SA, on suspicion that key shareholders in both companies were aware of irregularities surrounding the deal, newspaper Valor Economico said on Tuesday. The watchdog, known as CVM, will look into whether Oi's and Portugal Telecom's controlling shareholders might have known ahead of time about potential losses in Portugal Telecom that ended up souring the transaction, Valor said, citing a document.

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