RIO DE JANEIRO, June 2, 2015 /PRNewswire/ -- Oi S.A. ("Oi"
or the "Company", Bovespa: OIBR3, OIBR4; NYSE: OIBR and OIBR.C),
pursuant to art. 157, section 4, of Law No. 6,404/76 and CVM
Instruction No. 358/02, informs its shareholders and the market in
general that, after satisfying all of the contractual conditions
precedent, the sale by Oi of all shares issued by PT Portugal SGPS,
S.A. ("PT Portugal") to Altice
Portugal, S.A. ("Altice
Portugal"), primarily encompassing the operations conducted
by PT Portugal in Portugal and
Hungary, as disclosed in the
Company's Material Facts published on December 8, 2014, December
9, 2014, January 22, 2015 and
April 22, 2015, became effective on
this date.
Altice Portugal disbursed the
total amount of 5.789 billion Euros
for the acquisition of PT Portugal, of which 4.920 billion Euros were paid in cash to Oi and
869 million Euros were allocated to
immediately repay outstanding indebtedness of PT Portugal in Euros.
The final purchase price is subject to post-closing adjustments to
be calculated within the next months as a result of changes in the
cash, indebtedness and working capital positions on the closing
date.
Flavio Nicolay Guimaraes
Chief Financial Officer and Investor Relations Officer
Oi S.A.
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SOURCE Oi S.A.