Market greets Portugal Telecom, Oi merger as favourable

The merger of Portugal Telecom and Oi, Brazil’s largest telecoms company, is credit-positive for the Portuguese firm, according to bond market sources.

  • By Stefanie Linhardt
  • 03 Oct 2013

Moody’s has put Portugal Telecom's Ba2 rating on review for an upgrade and the company’s bonds have been rallying.

“We are putting Portugal Telecom's ratings on review for upgrade because if the corporate combination is successfully executed, the company's bondholders could benefit from an explicit guarantee from Oi,” said ...

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