Battered Portugal Telecom shareholders have been advised to give the 'thumbs up' to the proposed merger with Brazil’s Oi.
The Institutional Shareholders Services has analysed the deal and say that the terms of the merger between Portugal Telecom and Oi are beneficial to the shareholders of PT.
The merger is the one and only topic on the agenda at a general meeting of PT shareholders scheduled for September 8, 2014.
The international consultants from Institutional Shareholders Services have taken into account the Portugal Telecom debt position with the Espírito Santos subsidiary Rioforte, which still owes PT €900 million, and the near halving of the PT share price in the past month as a result of Rioforte being unable to repay the money, and then applying swiftly for court protection from its creditors.







