RIO DE JANEIRO, Oct. 26, 2015 /PRNewswire/ -- Oi S.A. ("Oi" or
the "Company", Bovespa: OIBR3, OIBR4; NYSE: OIBR and OIBR.C), in
accordance with Art. 157, paragraph 4 of Law No. 6,404/76, informs
its shareholders and the market in general that BTG Pactual S.A.
("BTG Pactual"), in its capacity as the Company's agent to develop
viable structuring and financing alternatives that would enable the
Company to participate in the consolidation of the Brazilian
telecommunications sector, without diluting the interests of
current shareholders, received, on Friday,
October 23, 2015, a letter from a company of the investment
group Letter One ("Letter One"), containing a proposal for the
Company to enter into exclusive negotiations with Letter One with
respect to a potential transaction with the objective of a possible
consolidation of the Brazilian telecommunications sector, involving
a potential business combination with TIM Participacoes S.A.
In accordance with the proposal from Letter One, sent by BTG
Pactual to the Chief Executive Officer and Chairman of the
Company's board of directors, Letter One would be willing to make a
capital contribution of up to U.S.$4.0
billion in the Company, subject to the consolidation
activities.
The proposal will be carefully evaluated by the Company, jointly
with its legal and financial advisors.
The Company will maintain its shareholders and the market
informed if there is any decision with respect to the above matter
or with respect to any events related to the foregoing.
Flavio Nicolay Guimaraes
Chief Financial Officer and Investor Relations Officer
Oi S.A.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/oi-sa-material-fact---proposal-for-exclusivity-of-potential-transaction-that-enables-the-consolidation-of-the-sector-300165885.html
SOURCE Oi S.A.