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Portugal Telecom shareholders delay vote on Altice deal
2015-01-13 09:05:00| Telecompaper Headlines
(Telecompaper) The shareholders meeting of Portugal Telecom on 12 January was suspended and rescheduled for 22 January. The decision came after the company's major shareholders, including Novo Banco, Ongoing and Telemar, expressed this request. With the application for suspension, the shareholders aim to get additional information, including legal opinions on the EUR 7.4 billion merger between Oi and Portugal Telecom. The meeting was scheduled to vote on Oi's proposed sale of PT Portugal to Altice. The unions of PT Portugal consider the postponement a "half victory", as it opens the possibility of the merger with Oi to be cancelled, Publico reports. For its part, the Brazilian operator said it supports the decision by shareholders.
Tags: deal
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Category:Telecommunications