RIO DE JANEIRO, Feb. 10, 2014 /PRNewswire/ -- Oi S.A.
("Oi" or the "Company", BM&FBovespa: OIBR3, OIBR4; NYSE:
OIBR and OIBR.C), in compliance with the provisions of art. 157, §4
of Law No. 6,404/76 and in accordance with CVM Instruction No.
358/02, considering the share price movements observed on
February 7, 2014 in Oi's shares and
recent news articles from the press in connection with the
formation of a company that will consolidate the shareholder bases
of Oi, Portugal Telecom, SGPS S.A. ("Portugal Telecom") and Telemar
Participacoes S.A. ("TmarPart"), as disclosed in the material fact
dated October 2, 2013 and subsequent
material facts ("Transaction") hereby informs its shareholders and
the market in general the following.
As previously disclosed, the Transaction consists of various
steps, including a public offering of Oi common and preferred
shares (the "Public Offering").
In connection with the Public Offering, the Company will rely on
a syndicate of first rate Brazilian and international underwriters
who should assume a commitment to subscribe for an amount of
R$6 billion. Additionally, current
shareholders of TmarPart and an investment vehicle managed and
administered through Banco BTG Pactual S.A., will participate in
the Public Offering by placing a subscription order of R$2 billion as previously disclosed in the
memorandum of understanding, dated October
1, 2013.
The actual terms and conditions of the engagement of the
underwriting syndicate will be included in the documents related to
the Public Offering, which will be presented in due course to the
Brazilian Securities Commission (Comissão de Valores
Mobiliários).
Oi will keep its shareholders and the market informed of any
subsequent material events related to the Transaction.
Rio de Janeiro, February 10, 2014.
Oi S.A.
Bayard de Paoli
Gontijo
Investor Relations Officer
SOURCE Oi S.A.