Portugal Telecom (WKN:895464)
22.04.18 11:11
#2377
learner
Der letzte Anstieg ist zwar ganz nett,
aber scheint eher eine technische Reaktion zu sein.
Von OI gab es dazu keine wirklich positive Neuerung. Man macht immer noch Verluste und die Einnahmeseite hat sich auch nicht verbessert. Im Gegenteil!
Die haben noch viel zu tun, um diese Firma rentabel zu machen. Zumindest läuft es insgesamt in Brasilien wieder etwas besser, so dass zumindest von dieser Seite etwas Rückenwind zu erwarten ist.
Von OI gab es dazu keine wirklich positive Neuerung. Man macht immer noch Verluste und die Einnahmeseite hat sich auch nicht verbessert. Im Gegenteil!
Die haben noch viel zu tun, um diese Firma rentabel zu machen. Zumindest läuft es insgesamt in Brasilien wieder etwas besser, so dass zumindest von dieser Seite etwas Rückenwind zu erwarten ist.
23.04.18 15:53
#2378
learner
Börse kann echt ein Arschloch sein.
Den Anstieg hätte ich gerne letzte Woche gesehen, bevor ich den Switch gemacht habe.
24.04.18 18:14
#2381
learner
Heute noch mal 11% oben drauf.
Erklärungen? OI bewegt sich indes nicht. Das ist jetzt schon etwas bitter, wenn man die Reißleine zieht, weil ein Niveau unterschritten wird und ein Tag später steigt der Wert, als ob es kein Morgen gäbe.
25.04.18 10:07
#2382
paioneer
ct mässig...
sieht das wieder sehr spannend aus...wir sollten ab 0.25 konsolidieren und seitwärts laufen. dann könnten sogar wieder die 0.50 in reichweite kommen. tippe mal auf juli...
25.04.18 16:07
#2383
learner
Würde mich überraschen, da sich OI
leider immer noch nicht bewegt. Aber an der Börse ist ja bekanntlich alles möglich. Im Moment staune ich einfach nur.
25.04.18 16:53
#2384
learner
Hab doch glatt ein Falschaussage
getroffen. Während Pharol munter weiter steigt, fällt OI ebenfalls munter weiter.
25.04.18 20:39
#2385
paioneer
unter vergleichsweise...
hohen umsätzen findet die derzeitige rallye statt, das macht die sache noch wesentlich spannender...
30.04.18 12:37
#2386
paioneer
die wege von pharol...
sind unergründlich oder weiss man schon, warum es steigt?? nur der ct geschuldet oder gibt es was handfestes?
02.05.18 10:32
#2388
JAM_JOYCE
Palha da Silva: "Oi had a sudden devaluation to be
a normal situation"
6:58
https://eco.pt/entrevista/...ita-demais-para-ser-uma-situacao-normal/
Luís Palha da Silva, manager of Pharol, acknowledges that Oi's devaluation was "too sudden" to be considered "normal." So the attempt to merge with PT was a "strange" deal, he says.
Pharol is today one of the main shareholders of the Brazilian operator Oi, but should cease to be when the company completes the conversion of debt into shares and the capital increase in cash provided for in the judicial recovery plan to which it is subject. Today, after the failed merger between PT and Oi, and after the former holding company becomes the holding company of Pharol, current CEO Luís Palha da Silva acknowledges that the situation can not have been normal. In an interview with ECO, divided into four parts, Palha da Silva also speaks about the current shareholders of the national quotation.
Can you tell us if one of Oi's benchmark shareholders, Nelson Tanure, is today a shareholder of Pharol? Is this information confirmed, or not?
Since about two years ago, we were challenged by the judge, by the same judge who dealt with the judicial recovery (RJ), to have an agreement with Dr. Nelson Tanure, that we have direct contacts with him and that, even he under that agreement, to become a Trustee of Pharol. He is now manager of Pharol. And so I'll just tell you this: he's on Pharol's advice. We have an agreement that comes from that time, in which, at a certain point, Société Mondiale considered that Pharol was one of the great culprits of Oi (I think it was duly misinformed, and he himself had already confessed that he had, in fact, been misinformed) . We reached an agreement. Relationships are, I would say, healthy. There is no very deep contact, but he is our steward and this resulted from his willingness to participate, in short, in Pharol's life in a direct way. It is clear from the agreement that it was necessary at the time.
PHR PHAROL SGPS, SA € 0.288 ↑5.69%
Palha da Silva: "We can not be prevented from participating in the capital increase of Oi"
6:57
Palha da Silva: "We rely on Brazilian justice to ensure good governance of Oi"
Palha da Silva, president of Pharol: "Not receiving anything from Rio Forte is an impossibility"
Pharol multiplies losses. Lost 806.5 million because of Oi
April 24, 2018
Prior to Oi's capital increase, Discovery Capital departs from Pharol
April 17, 2018
Hi, I want capital increase until June
13 April 2018
Conflict between Pharol and Oi will be mediated
April 3, 2018
Hi, postponed the presentation of accounts. Complexity of recovery plan justifies decision
March 29, 2018
Oi's capital increase may shrink Pharol's position from 27% to 6%
19 March 2018
It's a strategic agreement.
I would say it was a more tactical agreement for us. Because, in fact, there was a situation of great conflict in the Brazilian market. Our main asset is in Brazil and having peace in Portugal would also mean admitting that he could know everything we do, even knowing our true intentions as a company advisor. If he is a shareholder of the company today, I believe that his participation has decreased considerably. At Pharol, I do not know the size, but I think that when there was this willingness and acceptance of us to take part in Pharol's advice, he was aware that he was also very interested in having a social stake in Pharol . But I do not know the size.
Tanure will now be ratified at the next General Assembly (GA) of Pharol.
Ratification is a must. It was co-opted. There was a vacant space and, as you know, co-optation is necessarily, necessarily, subject to ratification in the next GA.
A few months ago, he said he would try to meet the new shareholder who bought the 6.17% stake in BCP, the High Bridge Unipessoal. Have you met this shareholder? Who is behind this company?
No, I do not know. I would not mind admitting it was Nelson Tanure himself , but I have no information. We do not have any official information, but I would not mind admitting it.
Does the New Bank continue as a benchmark shareholder of Pharol?
The New Bank continues to be a very committed shareholder in following the management , the Board of Directors (CA) and, to date, this has been its position. He also believes that this is a valuable position and, therefore, we have had full support for the policies we have been following.
“ I would not mind admitting that it was Nelson Tanure himself [the buyer of the 6.17% position that BCP had in Pharol].
Luís Palha da Silva
Chief Executive Officer of Pharol
What do you define as a success in this relationship process with Oi? What do you define for yourself and then for shareholders as a measure of your management success?
For me, the pacification of RJ - by whatever method, but we have enough hope in this process of mediation launched by the judge. As a consequence, the development of the best operational performance. And a great attention to everything that happens in the Brazilian market. Therefore, systematizing, first: Pacification of RJ; Second, a valuation of our assets through a much better operating performance; Thirdly, to be attentive to all development processes within the Brazilian market that can further enhance the value of Oi within this market.
And recover the investment in Rio Forte?
R equalizing investment [all], can hardly happen.
He made the reference recently that PT's shareholders, when they bought Oi, did not buy exactly what they thought they had bought. From the experience you have, with the knowledge you have of Oi today, was it possible, to date, to realize that this was not exactly what was being bought?
Making value judgments of this kind after three years is very difficult. I can not judge very well. I do not know the situation. I know that in two years, a company where we had a call option at 20 reais, move to a valuation of four reais, (and now it is stabilized at 3.5, four reais; it has already reached less than one real), is a sudden devaluation so that we can say that we are facing a normal situation. There are normal situations of corporate failure, because a technological evolution has not been apprehended, because a situation in the market has not been properly guarded, any huge litigation of value was not properly foreseen, but ... this is not here.
OIBR4 Oi SA 3.28 - 0.00%
It is, in fact, an assessment of an operational situation that was not, by now or by far, the one that was seen at the time. And it is also information, as the reports now say, which indicate a huge lack of control and which are responsible, for example, for the disappearance of more than six billion reals in escrow deposits. The report of the auditors is clear in indicating that there was a very clear, very serious lack of control of this type of situation. But this is just one of several. So I would say that we are not in a normal situation. The judgments we have to make, we will do on our own if that is necessary, but I will not do it at this time.
Is Zeinal Bava responsible for this? Having been the president of PT and accumulating the position with the presidency of Oi in the phase in which the business was made; with the facts, with the audit you have in hand, how can it be that a manager did not realize this?
I will not customize it. I understand that Oi is much more than just a responsible one . It is a set of shareholders at the time, a leading team at the time. I will not customize it. I can have my personal opinion, but I will not make it public. I think that if there is any responsibility, it is the responsibility of the institutions.
And the business, with the data that it has today ... because time helps us to realize this ... it was worth the merit itself or perceives, today, with the information that has, that implicit other kind of constraints, objectives, that not only the creation of a Portuguese-speaking operator?
It also involves some speculation on my part, because I have no data that would allow me to say anything. Now, I say again: it is strange that a company that has demonstrated this type of problem so far has been entitled to have 100% of a great company changed in the past, as it has always been verified by 39% of a company that came into a recovery process two years later. It's too bad to be a normal thing, as I tell you.
Have you ever heard, as President of Pharol, to learn about the Lava Jato, Operation Marquis, due to the relations between PT / Pharol / Oi and Brazilian builders?
No. Strictly nothing. Pharol is not involved and has never been involved. If other people had, they are in their personal capacity and I have never been involved, as President of Pharol, to make statements. We received visits from entities that were watching the matter and we provided all the information at any time. But we have never heard of any of these situations.
With its experience of the Brazilian market (should it be the Portuguese managers with more experience in the Brazilian market, even for other functions that it had in Jerónimo Martins), is it still interesting for Portuguese companies?
In the Brazilian market, there must always be 200 million consumers, a continent-sized country that contains a series of innumerable businesses and, to that extent, may always interest investors who wish to participate at a national or local level. local. If I am asked, then, if all the local institutions operate in the direction of a frank welcome from investors, our experience has to say that, for example, in a given circumstance, what seems to be most sacred to any investor, to participate with their presence in business management, does not always happen. We, for example, have been stripped of our political rights, of participating in Boards of Directors, of participating in general meetings. Of course we do not settle for this decision and we are appealing. But the truth is that we have this difficulty right now. And it is evident that this lack of sensitivity towards the foreign investor, in this particular case, in relation to us, happened.
Flávio Nunes
Editor
António Costa
Publisher
6:58
https://eco.pt/entrevista/...ita-demais-para-ser-uma-situacao-normal/
Luís Palha da Silva, manager of Pharol, acknowledges that Oi's devaluation was "too sudden" to be considered "normal." So the attempt to merge with PT was a "strange" deal, he says.
Pharol is today one of the main shareholders of the Brazilian operator Oi, but should cease to be when the company completes the conversion of debt into shares and the capital increase in cash provided for in the judicial recovery plan to which it is subject. Today, after the failed merger between PT and Oi, and after the former holding company becomes the holding company of Pharol, current CEO Luís Palha da Silva acknowledges that the situation can not have been normal. In an interview with ECO, divided into four parts, Palha da Silva also speaks about the current shareholders of the national quotation.
Can you tell us if one of Oi's benchmark shareholders, Nelson Tanure, is today a shareholder of Pharol? Is this information confirmed, or not?
Since about two years ago, we were challenged by the judge, by the same judge who dealt with the judicial recovery (RJ), to have an agreement with Dr. Nelson Tanure, that we have direct contacts with him and that, even he under that agreement, to become a Trustee of Pharol. He is now manager of Pharol. And so I'll just tell you this: he's on Pharol's advice. We have an agreement that comes from that time, in which, at a certain point, Société Mondiale considered that Pharol was one of the great culprits of Oi (I think it was duly misinformed, and he himself had already confessed that he had, in fact, been misinformed) . We reached an agreement. Relationships are, I would say, healthy. There is no very deep contact, but he is our steward and this resulted from his willingness to participate, in short, in Pharol's life in a direct way. It is clear from the agreement that it was necessary at the time.
PHR PHAROL SGPS, SA € 0.288 ↑5.69%
Palha da Silva: "We can not be prevented from participating in the capital increase of Oi"
6:57
Palha da Silva: "We rely on Brazilian justice to ensure good governance of Oi"
Palha da Silva, president of Pharol: "Not receiving anything from Rio Forte is an impossibility"
Pharol multiplies losses. Lost 806.5 million because of Oi
April 24, 2018
Prior to Oi's capital increase, Discovery Capital departs from Pharol
April 17, 2018
Hi, I want capital increase until June
13 April 2018
Conflict between Pharol and Oi will be mediated
April 3, 2018
Hi, postponed the presentation of accounts. Complexity of recovery plan justifies decision
March 29, 2018
Oi's capital increase may shrink Pharol's position from 27% to 6%
19 March 2018
It's a strategic agreement.
I would say it was a more tactical agreement for us. Because, in fact, there was a situation of great conflict in the Brazilian market. Our main asset is in Brazil and having peace in Portugal would also mean admitting that he could know everything we do, even knowing our true intentions as a company advisor. If he is a shareholder of the company today, I believe that his participation has decreased considerably. At Pharol, I do not know the size, but I think that when there was this willingness and acceptance of us to take part in Pharol's advice, he was aware that he was also very interested in having a social stake in Pharol . But I do not know the size.
Tanure will now be ratified at the next General Assembly (GA) of Pharol.
Ratification is a must. It was co-opted. There was a vacant space and, as you know, co-optation is necessarily, necessarily, subject to ratification in the next GA.
A few months ago, he said he would try to meet the new shareholder who bought the 6.17% stake in BCP, the High Bridge Unipessoal. Have you met this shareholder? Who is behind this company?
No, I do not know. I would not mind admitting it was Nelson Tanure himself , but I have no information. We do not have any official information, but I would not mind admitting it.
Does the New Bank continue as a benchmark shareholder of Pharol?
The New Bank continues to be a very committed shareholder in following the management , the Board of Directors (CA) and, to date, this has been its position. He also believes that this is a valuable position and, therefore, we have had full support for the policies we have been following.
“ I would not mind admitting that it was Nelson Tanure himself [the buyer of the 6.17% position that BCP had in Pharol].
Luís Palha da Silva
Chief Executive Officer of Pharol
What do you define as a success in this relationship process with Oi? What do you define for yourself and then for shareholders as a measure of your management success?
For me, the pacification of RJ - by whatever method, but we have enough hope in this process of mediation launched by the judge. As a consequence, the development of the best operational performance. And a great attention to everything that happens in the Brazilian market. Therefore, systematizing, first: Pacification of RJ; Second, a valuation of our assets through a much better operating performance; Thirdly, to be attentive to all development processes within the Brazilian market that can further enhance the value of Oi within this market.
And recover the investment in Rio Forte?
R equalizing investment [all], can hardly happen.
He made the reference recently that PT's shareholders, when they bought Oi, did not buy exactly what they thought they had bought. From the experience you have, with the knowledge you have of Oi today, was it possible, to date, to realize that this was not exactly what was being bought?
Making value judgments of this kind after three years is very difficult. I can not judge very well. I do not know the situation. I know that in two years, a company where we had a call option at 20 reais, move to a valuation of four reais, (and now it is stabilized at 3.5, four reais; it has already reached less than one real), is a sudden devaluation so that we can say that we are facing a normal situation. There are normal situations of corporate failure, because a technological evolution has not been apprehended, because a situation in the market has not been properly guarded, any huge litigation of value was not properly foreseen, but ... this is not here.
OIBR4 Oi SA 3.28 - 0.00%
It is, in fact, an assessment of an operational situation that was not, by now or by far, the one that was seen at the time. And it is also information, as the reports now say, which indicate a huge lack of control and which are responsible, for example, for the disappearance of more than six billion reals in escrow deposits. The report of the auditors is clear in indicating that there was a very clear, very serious lack of control of this type of situation. But this is just one of several. So I would say that we are not in a normal situation. The judgments we have to make, we will do on our own if that is necessary, but I will not do it at this time.
Is Zeinal Bava responsible for this? Having been the president of PT and accumulating the position with the presidency of Oi in the phase in which the business was made; with the facts, with the audit you have in hand, how can it be that a manager did not realize this?
I will not customize it. I understand that Oi is much more than just a responsible one . It is a set of shareholders at the time, a leading team at the time. I will not customize it. I can have my personal opinion, but I will not make it public. I think that if there is any responsibility, it is the responsibility of the institutions.
And the business, with the data that it has today ... because time helps us to realize this ... it was worth the merit itself or perceives, today, with the information that has, that implicit other kind of constraints, objectives, that not only the creation of a Portuguese-speaking operator?
It also involves some speculation on my part, because I have no data that would allow me to say anything. Now, I say again: it is strange that a company that has demonstrated this type of problem so far has been entitled to have 100% of a great company changed in the past, as it has always been verified by 39% of a company that came into a recovery process two years later. It's too bad to be a normal thing, as I tell you.
Have you ever heard, as President of Pharol, to learn about the Lava Jato, Operation Marquis, due to the relations between PT / Pharol / Oi and Brazilian builders?
No. Strictly nothing. Pharol is not involved and has never been involved. If other people had, they are in their personal capacity and I have never been involved, as President of Pharol, to make statements. We received visits from entities that were watching the matter and we provided all the information at any time. But we have never heard of any of these situations.
With its experience of the Brazilian market (should it be the Portuguese managers with more experience in the Brazilian market, even for other functions that it had in Jerónimo Martins), is it still interesting for Portuguese companies?
In the Brazilian market, there must always be 200 million consumers, a continent-sized country that contains a series of innumerable businesses and, to that extent, may always interest investors who wish to participate at a national or local level. local. If I am asked, then, if all the local institutions operate in the direction of a frank welcome from investors, our experience has to say that, for example, in a given circumstance, what seems to be most sacred to any investor, to participate with their presence in business management, does not always happen. We, for example, have been stripped of our political rights, of participating in Boards of Directors, of participating in general meetings. Of course we do not settle for this decision and we are appealing. But the truth is that we have this difficulty right now. And it is evident that this lack of sensitivity towards the foreign investor, in this particular case, in relation to us, happened.
Flávio Nunes
Editor
António Costa
Publisher
02.05.18 10:35
#2389
JAM_JOYCE
Oi holds first meeting without participation of Ph
arol and Société Mondiale
Investing.com Brasil - 30/04/2018 - 10:45
https://moneytimes.com.br/...rticipacao-do-pharol-e-societe-mondiale/
Investing.com - Oi ( OIBR4 ) holds another meeting with its shareholders on Monday to discuss the future of the company. Unlike the last meetings that were turbulent, the expectation is that the meeting of today is more calm.
The reason for the expected tranquility is that, for the first time, by decision of the court that deals with the judicial recovery of the company, the shareholders Pharol and Société Mondiale will not be able to vote in the assembly.
The two groups had their political rights suspended and tried to hold the meeting in February to question the judicial recovery plan approved by the company. However, the attempts were unsuccessful.
Today's meeting has three items on the agenda: the approval of the accounts for the year 2017, the establishment of the annual global compensation amount for the administrators and the Supervisory Board and the election of the members of the Supervisory Board and their respective alternates.
An extraordinary general meeting is scheduled for May 14 to vote on the "management report and financial statements" of last year, as well as the decision on the proposal of the management regarding the result of the fiscal year.
The loss attributed to Oi's shareholders increased from 8.0 billion reais in 2016 to 6.4 billion reais last year. On the other hand, total net revenue was R $ 23.790 billion, down 8.5% from the previous year, which was R $ 25.9 billion.
EBITDA (earnings before interest, taxes, depreciation and amortization) also decreased 6.8%, from R $ 6.7 billion in 2016 to R $ 6.2 billion in 2017.
Oi has been in a process of judicial recovery since 2016 in order to reduce its liability, which is around R $ 65.4 billion.
The Judicial Recovery Plan aims to reduce the liabilities of the company by converting 72.12% of the debt borne by the creditors, to whom rights will be granted over the company.
By Investing.com
Investing.com Brasil - 30/04/2018 - 10:45
https://moneytimes.com.br/...rticipacao-do-pharol-e-societe-mondiale/
Investing.com - Oi ( OIBR4 ) holds another meeting with its shareholders on Monday to discuss the future of the company. Unlike the last meetings that were turbulent, the expectation is that the meeting of today is more calm.
The reason for the expected tranquility is that, for the first time, by decision of the court that deals with the judicial recovery of the company, the shareholders Pharol and Société Mondiale will not be able to vote in the assembly.
The two groups had their political rights suspended and tried to hold the meeting in February to question the judicial recovery plan approved by the company. However, the attempts were unsuccessful.
Today's meeting has three items on the agenda: the approval of the accounts for the year 2017, the establishment of the annual global compensation amount for the administrators and the Supervisory Board and the election of the members of the Supervisory Board and their respective alternates.
An extraordinary general meeting is scheduled for May 14 to vote on the "management report and financial statements" of last year, as well as the decision on the proposal of the management regarding the result of the fiscal year.
The loss attributed to Oi's shareholders increased from 8.0 billion reais in 2016 to 6.4 billion reais last year. On the other hand, total net revenue was R $ 23.790 billion, down 8.5% from the previous year, which was R $ 25.9 billion.
EBITDA (earnings before interest, taxes, depreciation and amortization) also decreased 6.8%, from R $ 6.7 billion in 2016 to R $ 6.2 billion in 2017.
Oi has been in a process of judicial recovery since 2016 in order to reduce its liability, which is around R $ 65.4 billion.
The Judicial Recovery Plan aims to reduce the liabilities of the company by converting 72.12% of the debt borne by the creditors, to whom rights will be granted over the company.
By Investing.com
02.05.18 10:43
#2390
JAM_JOYCE
kurzform. unvollständig
Pharol expects to receive less and less from Rioforte
Pharol already only has an estimate of receiving about 8% of the value it put in Rioforte.
Of the 897 million that invested in commercial paper of the company of the Espírito Santo group, Pharol has lowered the expectations of receiving, and even that percentage is not certain.
Alexandra Machado
April 25, 2018 at 10:40 p.m.
https://www.jornaldenegocios.pt/empresas/...ada-vez-menos-da-rioforte
Pharol no longer expexts to receive almost nothing from the 897 million euros that then PT invested in 2014 in commercial papers from Rioforte, a company in the Espirito Santo universe and that year went into insolvency........
Pharol already only has an estimate of receiving about 8% of the value it put in Rioforte.
Of the 897 million that invested in commercial paper of the company of the Espírito Santo group, Pharol has lowered the expectations of receiving, and even that percentage is not certain.
Alexandra Machado
April 25, 2018 at 10:40 p.m.
https://www.jornaldenegocios.pt/empresas/...ada-vez-menos-da-rioforte
Pharol no longer expexts to receive almost nothing from the 897 million euros that then PT invested in 2014 in commercial papers from Rioforte, a company in the Espirito Santo universe and that year went into insolvency........
07.05.18 11:09
#2391
JAM_JOYCE
und es wird wieder aufgestockt...
http://web3.cmvm.pt/SDI/emitentes/docs/PQ68310.pdf
PHAROL, SGPS S.A. informs on Qualified Holding Adar Macro Fund Ltd
PHAROL, SGPS S.A. informs on Qualified Holding Adar Macro Fund Ltd
08.05.18 06:32
#2392
learner
In New York wird OI
unter relativ hohem Volumen gehandelt. Gestern war das Open bei 6.00 USD und das Close dann ca. 10% tiefer. Erstaunliche Bewegungen. In meinen Interesse hoffe ich, dass die hohen Volumen mit einer Bodenbildung zu tun haben.
Aber ob die allgemeine Marktkorrektur wirklich schon gelaufen ist?
Aber ob die allgemeine Marktkorrektur wirklich schon gelaufen ist?
Angehängte Grafik:
oibr_boden_.png (verkleinert auf 22%)
oibr_boden_.png (verkleinert auf 22%)
08.05.18 23:45
#2393
Santander
Gibt es tatsächlich 17 Cents Dividende
Für 2017??? Steht so bei onvista. Wer kann mir helfen? Dann dürfte aber der Kurs nach der Zahlung exakt 17 cents runter gehen. Da bleibt dann nicht mehr viel übrig oder!?
15.05.18 09:23
#2394
JAM_JOYCE
Oi Reacts To The Action Of PHAROL In
THE USA
Oi reacts to Pharol's action in the US court, saying that it repeats arguments not accepted in Brazil.DA REDAÇÃO — 14 DE MAIO DE 2018
http://www.telesintese.com.br/oi-reage-a-acao-da-pharol-nos-eua/
In response to the lawsuit filed by Bratel, the vehicle of Oi's controller, Pharol, who filed against the Brazilian company in New York on Friday challenging the judicial recovery plan, Oi understands that "Pharol acts in a isolated in relation to the totality of the stakeholders in this process. Pharol's objection was the only one of merit filed in the United States against the requests for application of force and effect to the Brazilian judicial recovery plan approved by an absolute majority and homologated by the Brazilian Justice and brings arguments that simply reflect what they have insisted, without success, in all judicial spheres in Brazil. "
Oi explains in its statement that Oi Coop, one of Oi's Dutch financial vehicles, has issued bonds in the United States to finance its operations in Brazil. Due to the bankruptcy of OI Coop decreed by the Dutch court, the company, in a judicial reorganization in Brazil, had to seek recognition by the US court, according to Chapter 15, that it is in Brazil that the center of interests of Oi Coop and thus, protect themselves against the Dutch process. "The New York court has secured this protection, in a decision already informed to the market," the Brazilian operator says.
For Oi, still, Pharol, when using the process of mediation initiated from the decision of the 7th Business Court of RJ to try to convince the US court not to recognize and give strength and effect to the homologated PRJ "is just one more strategy to use mediation to prevent the implementation of judicial recovery, which can not be accepted. "
Oi reacts to Pharol's action in the US court, saying that it repeats arguments not accepted in Brazil.DA REDAÇÃO — 14 DE MAIO DE 2018
http://www.telesintese.com.br/oi-reage-a-acao-da-pharol-nos-eua/
In response to the lawsuit filed by Bratel, the vehicle of Oi's controller, Pharol, who filed against the Brazilian company in New York on Friday challenging the judicial recovery plan, Oi understands that "Pharol acts in a isolated in relation to the totality of the stakeholders in this process. Pharol's objection was the only one of merit filed in the United States against the requests for application of force and effect to the Brazilian judicial recovery plan approved by an absolute majority and homologated by the Brazilian Justice and brings arguments that simply reflect what they have insisted, without success, in all judicial spheres in Brazil. "
Oi explains in its statement that Oi Coop, one of Oi's Dutch financial vehicles, has issued bonds in the United States to finance its operations in Brazil. Due to the bankruptcy of OI Coop decreed by the Dutch court, the company, in a judicial reorganization in Brazil, had to seek recognition by the US court, according to Chapter 15, that it is in Brazil that the center of interests of Oi Coop and thus, protect themselves against the Dutch process. "The New York court has secured this protection, in a decision already informed to the market," the Brazilian operator says.
For Oi, still, Pharol, when using the process of mediation initiated from the decision of the 7th Business Court of RJ to try to convince the US court not to recognize and give strength and effect to the homologated PRJ "is just one more strategy to use mediation to prevent the implementation of judicial recovery, which can not be accepted. "
15.05.18 09:27
#2395
JAM_JOYCE
ein Artikel zu dem Zukauf von siehe #2391
Adar Capital Partners already controls 10.3% of Pharol
Flávio Nunes
2 May 2018
https://eco.pt/2018/05/02/...ital-partners-ja-controla-103-da-pharol/
The Adar Capital Partners fund now controls almost 10.3% of the Portuguese company Pharol, which is the largest shareholder of Brazilian operator Oi. It becomes the largest shareholder known to Pharol.
The Adar Capital Partners fund, which manages assets of more than two billion dollars, has strengthened its position in Portuguese company Pharol and is now the largest known shareholder of the company led by Luís Palha da Silva. Headquartered in the Cayman Islands, Adar Capital Partners, controlled by Zev Marynberg, already has more than 10% of Portugal Telecom's former holding .
According to a note sent to markets Wednesday , April 27, Adar Capital Partners directly and indirectly controls 10.285% of the Portuguese company, which in turn is the largest shareholder of the Brazilian operator Oi . Previously, the direct and indirect position of the fund in Pharol was 7.012%. More specifically, the main fund managed by Marynberg, known as the Adar Macro Fund, directly holds 8.527% of the company.
With the almost 10.3% position in Pharol, the Adar Capital Partners fund becomes the largest known shareholder of the Portuguese listed company. It is a superior position to that of Telemar Norte Leste, which, according to the latest information, on May 31, 2012, will have 10% of Pharol. It also surpasses that of the New Bank, which is 9.56%.
This news comes on a day when Pharol is valuing on the Lisbon stock exchange , after ECO publishes a big interview with the CEO, Luís Palha da Silva . The company's shares rose 6.59% to 29.10 cents, a high since December last year.
At ECO, the Pharol leader was confident that the company will be able to recover a portion of Rio Forte's credit ( not recovering seems to be an impossible scenario ) and that Oi will appreciate after the ongoing judicial recovery . In addition, Pharol should suggest to shareholders to participate in Oi's next capital increase if conditions are "attractive."
Flávio Nunes
2 May 2018
https://eco.pt/2018/05/02/...ital-partners-ja-controla-103-da-pharol/
The Adar Capital Partners fund now controls almost 10.3% of the Portuguese company Pharol, which is the largest shareholder of Brazilian operator Oi. It becomes the largest shareholder known to Pharol.
The Adar Capital Partners fund, which manages assets of more than two billion dollars, has strengthened its position in Portuguese company Pharol and is now the largest known shareholder of the company led by Luís Palha da Silva. Headquartered in the Cayman Islands, Adar Capital Partners, controlled by Zev Marynberg, already has more than 10% of Portugal Telecom's former holding .
According to a note sent to markets Wednesday , April 27, Adar Capital Partners directly and indirectly controls 10.285% of the Portuguese company, which in turn is the largest shareholder of the Brazilian operator Oi . Previously, the direct and indirect position of the fund in Pharol was 7.012%. More specifically, the main fund managed by Marynberg, known as the Adar Macro Fund, directly holds 8.527% of the company.
With the almost 10.3% position in Pharol, the Adar Capital Partners fund becomes the largest known shareholder of the Portuguese listed company. It is a superior position to that of Telemar Norte Leste, which, according to the latest information, on May 31, 2012, will have 10% of Pharol. It also surpasses that of the New Bank, which is 9.56%.
This news comes on a day when Pharol is valuing on the Lisbon stock exchange , after ECO publishes a big interview with the CEO, Luís Palha da Silva . The company's shares rose 6.59% to 29.10 cents, a high since December last year.
At ECO, the Pharol leader was confident that the company will be able to recover a portion of Rio Forte's credit ( not recovering seems to be an impossible scenario ) and that Oi will appreciate after the ongoing judicial recovery . In addition, Pharol should suggest to shareholders to participate in Oi's next capital increase if conditions are "attractive."
15.05.18 09:31
#2396
JAM_JOYCE
Pharol tries to bar Oi's judicial recovery in the
United States
Monday, May 14, 2018
https://www.minhaoperadora.com.br/2018/05/...-nos-estados-unidos.html
The largest shareholder of the operator seeks to prevent the international homologation of the credit agreement of the Brazilian provider.
Withdrawn from Oi by the Brazilian courts, Pharol (formerly Portugal Telecom) tries to bar the judicial recovery of the operator in the United States. The company seeks to prevent the international homologation of the creditors agreement of the Brazilian provider.
Without being able to interfere in the lawsuit in Brazil, Oi's largest shareholder filed an objection in New York to the judicial recovery plan approved in December last year.
Bratel, for which Pharol owns 22% of Oi, alleges violations of shareholder rights and procedures pending judgment.
Oi countered the shareholder's argument by recalling that the New York court has previously granted a guarantee that the judicial recovery will be resolved in Brazil.
"Oi believes that Pharol acts in isolation from all stakeholders in this process. The objection from Pharol brings arguments that simply reflect what they have insisted unsuccessfully in all judicial spheres in Brazil, " the operator said in a statement.
In the lawsuit in the United States, Pharol requests that the capital increase and changes in governance contemplated in the recovery plan be resolved by shareholders in the meeting .
The discussion in the US judiciary is possible because Oi Coop, Oi's Dutch fund-raising subsidiary, has issued bonds in the US.
Since January, Pharol has been calling for a General Meeting to change the capital increase plan, to ensure the maintenance of directors in their positions and to discuss other matters related to the judicial recovery of Oi.
The insistence on the convening of a General Assembly meant that in March the Justice removed the directors who represented Pharol and Société Mondiale from the Board of Directors of Oi.
With the withdrawal, the court tries to avoid other possible interventions by shareholders in the progress of the judicial recovery plan of Oi, approved in December by creditors and homologated by Justice in January.
[UPDATE - 05/14/2018 10:27 PM]:
Shortly after 10 pm, Oi sent a statement to My Operator about the case. It follows in its entirety:
"Oi informs that, as already duly presented to the market and in line with the transnational restructuring that Oi's Judicial Recovery represents, some clarification is needed.
In effect, Oi Coop, one of Oi's Dutch financial vehicles, issued bonds in the United States to finance the company's operations in Brazil. Due to the bankruptcy of OI Coop decreed by the Dutch court, the company, in a judicial reorganization in Brazil, had to seek recognition by the US court, according to Chapter 15, that it is in Brazil that the center of interests of Oi Coop and thus, protect themselves against the Dutch process. The New York court granted this protection, in a decision already informed to the market.
With the approval and approval of the Judicial Recovery Plan and the need for its implementation, following the Chapter 15 process, Oi Coop requested the granting of a judicial order that recognized full force and effect (FFE Order) ) of the Brazilian homologation decision. In this request, as expected, Oi Coop sought to demonstrate the massive support to the PRJ and the acts envisaged in the plan that need to be implemented to restructure a large part of the credits inserted in RJ.
In this context, Oi believes that Pharol acts in isolation from all stakeholders in this process. Pharol's objection was the only one of merit filed in the United States against the requests for application of force and effect to the Brazilian judicial recovery plan approved by an absolute majority and homologated by the Brazilian Justice and brings arguments that simply reflect what they have insisted, without success, in all judicial spheres in Brazil.
What is most striking is the misuse that Pharol made of the mediation process initiated after the decision of the 7th Company Court of Rio de Janeiro. The procedure in question, as explicitly based on the aforementioned judicial decision, focuses on the stabilization of the RJ process and the reduction of litigation, not the re-discussion of the JTR already approved and approved. In this sense, the use of this procedure to try to convince the US court not to recognize and give strength and effect to the homologated PRJ is just another strategy of using mediation to prevent the implementation of Judicial Recovery, which can not be accepted.
In this regard, the company will face any questioning and will take appropriate measures to protect its business from attacks that potentially undermine its operations. "
at 19:05 By: Kelly Diniz
Monday, May 14, 2018
https://www.minhaoperadora.com.br/2018/05/...-nos-estados-unidos.html
The largest shareholder of the operator seeks to prevent the international homologation of the credit agreement of the Brazilian provider.
Withdrawn from Oi by the Brazilian courts, Pharol (formerly Portugal Telecom) tries to bar the judicial recovery of the operator in the United States. The company seeks to prevent the international homologation of the creditors agreement of the Brazilian provider.
Without being able to interfere in the lawsuit in Brazil, Oi's largest shareholder filed an objection in New York to the judicial recovery plan approved in December last year.
Bratel, for which Pharol owns 22% of Oi, alleges violations of shareholder rights and procedures pending judgment.
Oi countered the shareholder's argument by recalling that the New York court has previously granted a guarantee that the judicial recovery will be resolved in Brazil.
"Oi believes that Pharol acts in isolation from all stakeholders in this process. The objection from Pharol brings arguments that simply reflect what they have insisted unsuccessfully in all judicial spheres in Brazil, " the operator said in a statement.
In the lawsuit in the United States, Pharol requests that the capital increase and changes in governance contemplated in the recovery plan be resolved by shareholders in the meeting .
The discussion in the US judiciary is possible because Oi Coop, Oi's Dutch fund-raising subsidiary, has issued bonds in the US.
Since January, Pharol has been calling for a General Meeting to change the capital increase plan, to ensure the maintenance of directors in their positions and to discuss other matters related to the judicial recovery of Oi.
The insistence on the convening of a General Assembly meant that in March the Justice removed the directors who represented Pharol and Société Mondiale from the Board of Directors of Oi.
With the withdrawal, the court tries to avoid other possible interventions by shareholders in the progress of the judicial recovery plan of Oi, approved in December by creditors and homologated by Justice in January.
[UPDATE - 05/14/2018 10:27 PM]:
Shortly after 10 pm, Oi sent a statement to My Operator about the case. It follows in its entirety:
"Oi informs that, as already duly presented to the market and in line with the transnational restructuring that Oi's Judicial Recovery represents, some clarification is needed.
In effect, Oi Coop, one of Oi's Dutch financial vehicles, issued bonds in the United States to finance the company's operations in Brazil. Due to the bankruptcy of OI Coop decreed by the Dutch court, the company, in a judicial reorganization in Brazil, had to seek recognition by the US court, according to Chapter 15, that it is in Brazil that the center of interests of Oi Coop and thus, protect themselves against the Dutch process. The New York court granted this protection, in a decision already informed to the market.
With the approval and approval of the Judicial Recovery Plan and the need for its implementation, following the Chapter 15 process, Oi Coop requested the granting of a judicial order that recognized full force and effect (FFE Order) ) of the Brazilian homologation decision. In this request, as expected, Oi Coop sought to demonstrate the massive support to the PRJ and the acts envisaged in the plan that need to be implemented to restructure a large part of the credits inserted in RJ.
In this context, Oi believes that Pharol acts in isolation from all stakeholders in this process. Pharol's objection was the only one of merit filed in the United States against the requests for application of force and effect to the Brazilian judicial recovery plan approved by an absolute majority and homologated by the Brazilian Justice and brings arguments that simply reflect what they have insisted, without success, in all judicial spheres in Brazil.
What is most striking is the misuse that Pharol made of the mediation process initiated after the decision of the 7th Company Court of Rio de Janeiro. The procedure in question, as explicitly based on the aforementioned judicial decision, focuses on the stabilization of the RJ process and the reduction of litigation, not the re-discussion of the JTR already approved and approved. In this sense, the use of this procedure to try to convince the US court not to recognize and give strength and effect to the homologated PRJ is just another strategy of using mediation to prevent the implementation of Judicial Recovery, which can not be accepted.
In this regard, the company will face any questioning and will take appropriate measures to protect its business from attacks that potentially undermine its operations. "
at 19:05 By: Kelly Diniz
15.05.18 09:33
#2397
JAM_JOYCE
Oi sollte die Sache mit pharol klären und nicht
sich dagegen streuben
Hi contests arguments from Pharol in the USA
monday, may 14, 2018, 6:29 pm
Bruno do Amaral bruno do amaral | bruno@teletime.com.br
http://teletime.com.br/14/05/2018/...ta-argumentos-da-pharol-nos-eua/
In response to the attempt by Pharol (through Bratel) to suspend approval of the judicial reorganization plan in the United States , Oi said in a note late this afternoon, 14, that the Portuguese shareholder "acts in isolation from stakeholders in this process. " The company reiterates that the plan was approved by an absolute majority and homologated by the Brazilian courts. He also says that the objection of the shareholder reflects "what they have insisted, without success, in all judicial spheres in Brazil."
Oi also says that Pharol made "misuse" of the mediation process initiated after the decision of the 7th Business Court of Rio de Janeiro. According to the company, it is already explicitly based on the judicial decision that the procedure "focuses on the stabilization of the RJ process and the reduction of litigation, not the rediscussion of the PRJ [Judicial Recovery Plan] already approved and approved."
Thus, it considers that mention of this procedure in the United States case "is just another strategy ... to prevent the implementation of Judicial Recovery, which can not be accepted." Because of this, Oi declares that it will face the challenge and will take "appropriate measures to protect its business from attacks that potentially harm its operations."
The company recalls that the New York Court had already recognized, in accordance with Chapter 15, that the "center of interests" of the Dutch financial vehicle Oi Coöperatief is in Brazil . However, with the homologation of the RJ plan and the need for implementation, it was necessary to request a judicial order that would recognize full force and effect (FFE Order) of the Brazilian homologation decision.
Hi contests arguments from Pharol in the USA
monday, may 14, 2018, 6:29 pm
Bruno do Amaral bruno do amaral | bruno@teletime.com.br
http://teletime.com.br/14/05/2018/...ta-argumentos-da-pharol-nos-eua/
In response to the attempt by Pharol (through Bratel) to suspend approval of the judicial reorganization plan in the United States , Oi said in a note late this afternoon, 14, that the Portuguese shareholder "acts in isolation from stakeholders in this process. " The company reiterates that the plan was approved by an absolute majority and homologated by the Brazilian courts. He also says that the objection of the shareholder reflects "what they have insisted, without success, in all judicial spheres in Brazil."
Oi also says that Pharol made "misuse" of the mediation process initiated after the decision of the 7th Business Court of Rio de Janeiro. According to the company, it is already explicitly based on the judicial decision that the procedure "focuses on the stabilization of the RJ process and the reduction of litigation, not the rediscussion of the PRJ [Judicial Recovery Plan] already approved and approved."
Thus, it considers that mention of this procedure in the United States case "is just another strategy ... to prevent the implementation of Judicial Recovery, which can not be accepted." Because of this, Oi declares that it will face the challenge and will take "appropriate measures to protect its business from attacks that potentially harm its operations."
The company recalls that the New York Court had already recognized, in accordance with Chapter 15, that the "center of interests" of the Dutch financial vehicle Oi Coöperatief is in Brazil . However, with the homologation of the RJ plan and the need for implementation, it was necessary to request a judicial order that would recognize full force and effect (FFE Order) of the Brazilian homologation decision.
18.05.18 14:04
#2399
JAM_JOYCE
hoffe es doch
May 16, 2018 / 9:01 PM / 2 days ago
https://www.reuters.com/article/us-oi-sa-pharol/...plan-idUSKCN1IH2PA
U.S. court to hear fight over Brazil telecom Oi's bankruptcy plan
Gram Slattery
SAO PAULO (Reuters) - A U.S. bankruptcy court is set to hear a dispute involving Brazilian telecoms company Oi SA and major shareholder Bratel Brasil SA, Bratel said on Wednesday, as investor discontent with Oi’s bankruptcy reorganization process shows no signs of abating.
On Friday, Bratel, a subsidiary of Portugal’s Pharol SGPS SA, which owns almost 28 percent of Oi’s common shares, said it had filed a legal complaint in the United States. The complaint alleges that the rights of Oi shareholders were violated as part of an agreement approved by creditors in December to severely dilute shareholders’ equity to take Oi out of bankruptcy protection.
In the Wednesday statement, Bratel said Judge Sean Lane of the U.S. Bankruptcy Court for the Southern District of New York had scheduled a hearing for May 29.
Representatives for Oi criticized the move in a separate statement sent to Reuters, writing that the company “believes Pharol is acting in a totally isolated way in relation to all of the stakeholders in this process,” and that Pharol is trying to repeat arguments it unsuccessfully made in Brazilian courts.
“The company...will take the needed measures to protect from attacks that potentially hurt its operations,” the company said.
In December, creditors in Oi, Brazil’s largest fixed-line operator, approved a plan to restructure some 65 billion reais ($17.7 billion) in debt which will result in shareholders’ equity being diluted by 72 percent. Shareholders vigorously objected, especially as the company’s board was effectively removed from the process shortly before the vote.
That dilution process, in which debt will be converted into equity, has not yet occurred, though executives have told Reuters they hope to complete the process before the end of June.
That has resulted in several legal challenges.
Common shares in Oi, which have become extremely volatile in recent months, closed up 13.4 percent at 4.50 reais on Wednesday, while preferred shares closed up 6.1 percent at 3.47 reais.
https://www.reuters.com/article/us-oi-sa-pharol/...plan-idUSKCN1IH2PA
U.S. court to hear fight over Brazil telecom Oi's bankruptcy plan
Gram Slattery
SAO PAULO (Reuters) - A U.S. bankruptcy court is set to hear a dispute involving Brazilian telecoms company Oi SA and major shareholder Bratel Brasil SA, Bratel said on Wednesday, as investor discontent with Oi’s bankruptcy reorganization process shows no signs of abating.
On Friday, Bratel, a subsidiary of Portugal’s Pharol SGPS SA, which owns almost 28 percent of Oi’s common shares, said it had filed a legal complaint in the United States. The complaint alleges that the rights of Oi shareholders were violated as part of an agreement approved by creditors in December to severely dilute shareholders’ equity to take Oi out of bankruptcy protection.
In the Wednesday statement, Bratel said Judge Sean Lane of the U.S. Bankruptcy Court for the Southern District of New York had scheduled a hearing for May 29.
Representatives for Oi criticized the move in a separate statement sent to Reuters, writing that the company “believes Pharol is acting in a totally isolated way in relation to all of the stakeholders in this process,” and that Pharol is trying to repeat arguments it unsuccessfully made in Brazilian courts.
“The company...will take the needed measures to protect from attacks that potentially hurt its operations,” the company said.
In December, creditors in Oi, Brazil’s largest fixed-line operator, approved a plan to restructure some 65 billion reais ($17.7 billion) in debt which will result in shareholders’ equity being diluted by 72 percent. Shareholders vigorously objected, especially as the company’s board was effectively removed from the process shortly before the vote.
That dilution process, in which debt will be converted into equity, has not yet occurred, though executives have told Reuters they hope to complete the process before the end of June.
That has resulted in several legal challenges.
Common shares in Oi, which have become extremely volatile in recent months, closed up 13.4 percent at 4.50 reais on Wednesday, while preferred shares closed up 6.1 percent at 3.47 reais.
22.05.18 10:08
#2400
JAM_JOYCE
Adar Capital at Pharol to have exposure to Oi
Adar Capital already has more than 10% of Pharol. The company, which manages assets of two billion dollars, guarantees to Business that it invested in Pharol to have exposure to the restructuring of Oi. Portuguese society "is a great way".
Adar surprised at the beginning of May when reporting that it had surpassed the 10% in Pharol. And after a few days it was already part of the proposal of the corporate bodies that the company wants to have approved at the general meeting of May 25
artikel gekappt....
https://www.jornaldenegocios.pt/empresas/...l-para-ter-exposicao-a-oi
Adar surprised at the beginning of May when reporting that it had surpassed the 10% in Pharol. And after a few days it was already part of the proposal of the corporate bodies that the company wants to have approved at the general meeting of May 25
artikel gekappt....
https://www.jornaldenegocios.pt/empresas/...l-para-ter-exposicao-a-oi