Brazil's CVM clears new merger terms for Oi, pending holder assembly

viernes 6 de marzo de 2015 09:34 GYT

SAO PAULO, March 6 (Reuters) - Brazilian telecommunications firm Oi SA received approval from securities regulator CVM to implement new terms for its merger with Portugal Telecom SGPS SA, renegotiated in July after an ill-fated debt investment nearly sunk the deal.

In a securities filing on Friday, Oi said CVM cleared the terms, pending approval at a shareholder assembly in which voting rights will be extended to preferred shareholders but not Portugal Telecom, Oi's largest shareholder. (Reporting by Brad Haynes; Editing by Jeffrey Benkoe)