Shares of Brazil's Oi drop after ruling on share plan

miércoles 26 de marzo de 2014 09:46 GYT

SAO PAULO, March 26 (Reuters) - Shares of Brazilian telecom Oi SA fell the most in nearly half a year early Wednesday after a regulator said controlling shareholders could vote on the terms of an upcoming merger with Portugal Telecom, rejecting objections from minority shareholders.

The company's common shares were down more than 8 percent at 3.51 reais in early trade and preferred shares were down 10 percent at 3.24 reais. (Reporting by Brad Haynes; Editing by Jeffrey Benkoe)