Portugal Telecom is one step away from the merger with the Brazilian giant Oi, of which PT is currently the main shareholder. The objective of the operation is the creation of a group that generates synergies worth 1,8 billion euros and can count on around 100 million subscribers. The society carioca will carry out a capital increase of at least 2,3 billion euros.
The announcement was made by Portugal Telecom itself in a statement. After the news spread, the title of the Portuguese company literally skyrocketed, marking increases of more than 10% on the Lisbon Stock Exchange. The transaction could also have important consequences for Telecom Italia: according to numerous analysts, in fact, the merger between the two groups makes the sale of Tim Brasil even more probable, thus avoiding the risk of a capital increase and a downgrade to "junk ” by Moody's.
