Hints and tips:
...Apollo Global Management heeded that proverb earlier this week, slashing its voting stake in its affiliated life insurer, Athene Holding, which pays the private equity firm $400m a year to manage a $119bn...
...Oi’s restructuring plan was approved by a court this week....
...Excess funds are being lent in the FX swap market, which is the only segment of the money market that trades at a positive spread – however small – to U.S. dollar Libor....
...Revised 10 years ago, analysts say it is better than before but still leaves shareholders holding too many of the cards, analysts say....
...In a regime where balance sheet is rationed repos are costly, and the more the banking system relies on repos to settle FX swap trades, the farther FX swap implied rates drift from the OIS curve and the...
...bank, before it completed a merger with Oi in 2014....
...BNDES’s equities arm, BNDESPAR, still has a near 5 per cent stake in Oi while the bank remains a key lender, with state banks and export credit agencies holding 19 per cent of the telecom operator’s financial...
...Telecom Italia is open to a sale or merger of its Brazilian business with rival Oi, with a deal possible as early as next year....
...The company last year invested almost €900m in the commercial paper of Rioforte, a holding company in the Espírito Santo banking group, which has since collapsed....
...While Oi’s €7.4bn deal to sell Portugal Telecom’s Portuguese assets to France’s Altice last month could give it more financial firepower, a €1.2bn bid for Portugal Telecom’s holding company from Portugal...
...In September, Mexico’s América Móvil said it was in talks to bid for a controlling stake in TIM Participacoes along with Oi....
...The Brazilian telecoms market is in the midst of a complicated set of potential merger transactions, with Oi seen by analysts as a potential suitor for Telecom Italia’s Brazilian mobile business, TIM Brasil...
...In a statement published by Portugal’s stock market regulator on Sunday, Terra Peregrin, a Portuguese holding company controlled by Ms dos Santos, said the offer was for €1.35 a share, a premium of 11 per...
...Earlier this week, Isabel dos Santos, the daughter of Angola’s president, launched a €1.2bn takeover bid for PT SPGS, the holding company that owns PT’s stake in Oi....
...Last month, Oi teamed up with Brazilian billionaire Andre Esteves to review an ambitious acquisition of Telecom Italia’s Brazilian unit Tim Brasil – a deal estimated to be worth about $8bn....
...Altice said its offer excluded debt securities that PT had extended to Rioforte, an Espírito Santo group holding company that has unsuccessfully applied for creditor protection, as well as Oi treasury shares...
...Oi SA (OIBR4), according to a person familiar with the matter....
...Oi, Brazil’s biggest fixed-line company, has hired investment bank BTG Pactual to review options to buy Telecom Italia’s shares in the Brazilian unit Tim Brasil, a stake estimated to be worth around $8bn...
...PT has agreed to lower its stake in the merger with Oi after Rioforte, an Espírito Santo group holding company, defaulted on an €847m commercial paper repayment to the Portuguese telecoms group....
...Banco do Brasil, Banco Bradesco, Banco Caixa Geral de Depósitos, Goldman Sachs Group, Itaú-Unibanco Holding, Morgan Stanley & Co and Banco Santander were also joint bookrunners....
...With a fairly even split of opinion on the likelihood of tax revenues holding up, the balance of views suggests the budget deficit will not fall as fast as the chancellor would like, possibly falling far...
...This is divided among four players – Vivo (Telefónica Brasil), TIM (Telecom Italia), Claro (América Móvil) and Oi (Portugal Telecom) – and has seen slightly higher revenue growth rates....
...Bernstein said: “Telefónica has a strong interest in seeing TIM Brasil broken up . . . Fortunately for Telefónica the interests of América Móvil and Oi are also well served by the break-up.”...
...Portugal Telecom will go from holding a 25 per cent direct stake in Oi and an indirect stake of 12.1 per cent in Telemar to about 38 per cent of the new combined group....
...owned by Telefónica, America Movil and Oi....
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