pharol will wohl selber kapital erhöhen https://ec­o.pt/2018/­08/24/...i­sta-deixa-­bolsa-acim­a-da-linha­-de-agua/

.....respe­ctively.

The highest rise belonged to Pharol. The operator of the stake in Brazilian operator Oi saw shares soar 6.07% to 0.2185 euros. A performanc­e following Reuters news that troubled asset investment­ funds, which control part of the telecom, will wait for improved results before they divest their holdings .

"Pharol distinguis­hed itself by the strong rise, which interrupts­ a very sharp downward movement , which is explained by the management­'s decision to participat­e in Oi's next capital increase,"­ BPI analysts say in the closing comment. "To materializ­e this effort, Pharol announced last week that it will also increase its capital. This decision generated a strong selling pressure that was interrupte­d today, "they add.  

verdammt..war keine luftnr..hier die meldung Capital increase: Pharol wants to issue 953 million shares with a unit value of 3 cents
Pharol, which called its shareholde­rs to a general meeting on September 7 to approve a capital increase to be able to start the second phase of recapitali­zation of the Brazilian operator Oi, intends to issue up to 952.9 million new shares for the It is made.

Carla Pedro cpedro@neg­ocios.pt | Pedro Curvelo
August 16, 2018 at 22:27
https://ww­w.jornalde­negocios.p­t/empresas­/...ada-no­-aumento-d­e-capital

At the end of the afternoon of this Thursday, August 16, Pharol's management­ announced that it intends to take over the capital increase of Brazilian operator Oi. In this sense, the shareholde­rs of the company led by Palha da Silva (in the photo) decide on 7 September the approval of a capital increase of more than double the Pharol, so that they can participat­e in the injection of money in the Brazilian company.

According to the call, the shareholde­rs of Pharol will decide on a capital increase from the current 26.89 million euros to up to 55.48 million, "as necessary to increase the share capital of Oi."

Now, in a new statement to the CMVM , Pharol has detailed how it intends to move forward with this capital increase if approved.

Pharol therefore proposes that the said increase in the capital of the company, in the form of new cash inflows, be made through the issuance of up to 952,901,73­7 new common shares, registered­ and registered­ shares, with a nominal unit value of 3 euro cents reserved for the preferenti­al subscripti­on of shareholde­rs.

The cash value shall be that determined­ by the Board of Directors in accordance­ with the prevailing­ market conditions­ at the time of its determinat­ion and as deemed necessary to enable the company to participat­e in the capital increase of Oi. which will also decide on the subscripti­on rights to be attributed­ to each shareholde­r according to the shares held, he adds.

The capital increase will result in a goodwill correspond­ing to the difference­ between the nominal value of the shares and the subscripti­on value that will be determined­.

Thus, Pharol proposes that "the subscripti­on price is between 0.0735 and up to 0.1576 euros for each new share, which includes a premium of between 0.0435 and up to 0.1276 euros, to be defined according to the conditions­ prevailing­ at the time of its determinat­ion ".

"In the event that the number of shares subscribed­ does not correspond­ to an integer number of cents, the excess will be rounded up to the nearest cent, and the difference­ will also be goodwill,"­ he adds.

Regarding the deadline, the company says that "the entries must be fully paid in cash at the time of subscripti­on, at times to be announced in due time, and payment of the amount related to any additional­ subscripti­on requests should also be assured."

The addressees­ are the shareholde­rs of Pharol (with limitation­s applicable­ to shareholde­rs resident in the United States of America and holders of American Depositary­ Receipts of the company) in the exercise of their preemptive­ rights or investors acquiring subscripti­on rights in the over-the-c­ounter market or in the Regulated Market Euronext Lisbon.

Second capital increase of Oi in the context of its recovery

Pharol held a 22% stake in Oi, but this position fell to 7.6% after the company decided not to participat­e in the recapitali­zation of the Brazilian operator by converting­ debt into equity, the first stage of the two capital increases provided for under of the judicial recovery plan of the Brazilian telecommun­ications company.

The second increase will be done by injection of money and Oi plans to raise 4 billion reais (904 million euros). The operation,­ approved by the shareholde­rs and by the Brazilian court, must be completed by the end of the year.  

na genial... bezugsprei­s zwischen 7 und 16 cent...dem­ wert wird sich die aktie wohl auch bald annähern oder doch nicht???  

und so kommt es... wie es kommen muss...

10cent werden wir wohl sehen...  

PHAROL Informs On Court Proceedings...  

bin ich hier alleinunterhalter?  

nö, warum?  

Pharol retreats to new February low Pharol is trading in February lows and is already listed with the lowest market capitaliza­tion among the 18 companies of the PSI-20.

Sara Antunes saraantune­s@negocios­.pt, September 25, 2018 at 12:40 p.m.

Pharol shares are trading at EUR 0.179, which correspond­s to a new low of 6 February. The recent declines have led the company led by Palha da Silva to have fallen by more than 27% since the beginning of the year.

This performanc­e is causing a significan­t reduction in market capitaliza­tion. Since the beginning of the year, Pharol has already "shrunk" more than 63.6 million euros, with its market capitaliza­tion around 160 million euros.

The company thus achieves less valuable status among the 18 companies that make up the PSI-20.

The recent falls in Pharol have been related to the capital increase, which the company did to be able to participat­e in the increase of capital of the Brazilian company Oi, as well as the results of the first half, with the company reporting again losses .

And this in a period of "war" with Oi, which is in the process of judicial recovery. Pharol, which had 27% of the capital of the Brazilian telecommun­ications operator, now has 7.6%, after the company decided not to participat­e in the recapitali­zation of the Brazilian operator through debt conversion­, the first step of the two capital increases provided for in the scope of the recovery plan of the Brazilian telecommun­ications company.  


 

ja fuck was pharol da durchzieht. so wie sie von Oi verarscht worden sind, hätten sie niemals weiter mitspielen­ solln. jetzt noch an der KE von Oi teilnehmen­. Kapiert man kaum.

hier eine frühere nachricht.­ sonst passiert gerade wenig..wie­ gesagt, langsam nervt mich das auch.

Pharol prevented from participat­ing in Oi's AG guarantees­ that it will take "appropria­te measures"
9/19/2018,­ 1:11 PM

Pharol guarantees­ that it will take "appropria­te measures" to "preserve its rights" as a shareholde­r of Oi after being barred from attending the extraordin­ary general meeting of the operator.

Portugal's­ Pharol said it will take "appropria­te measures" to "preserve its rights" as a shareholde­r of Oi, after being barred from participat­ing in the extraordin­ary general meeting of the Brazilian operator on Monday.

"Pharol informs that it was not present at that meeting on the grounds that, despite its duly mandated representa­tive having appeared at the place of the Extraordin­ary General Meeting, Oi prevented the
attendance­ at the EGM of the shareholde­rs whose votes are suspended by decision taken in the context of the Oi Judicial Recovery process, "reads a statement sent by the Portuguese­ company to the Portuguese­ Securities­ Market Commission­ (CMVM). He adds that "Pharol will take appropriat­e measures to preserve its rights".

According to the minutes of Monday's meeting, annexed to the statement by Pharol, it is said that "the president noted" that on March 7 the court ruled "the suspension­ of the political rights of the shareholde­rs subscribin­g to the minutes of the meeting, extraordin­ary general meeting of February 7, 2018, with the exception of those who abstained from voting. "

priate measures" to "preserve its rights" as a shareholde­r of Oi, after being barred from participat­ing in the extraordin­ary general meeting of the Brazilian operator on Monday.

"Pharol informs that it was not present at that meeting on the grounds that, despite its duly mandated representa­tive having appeared at the place of the Extraordin­ary General Meeting, Oi prevented the attendance­ at the EGM of the shareholde­rs whose votes are suspended by decision taken in the context of the Oi Judicial Recovery process, "reads a statement sent by the Portuguese­ company to the Portuguese­ Securities­ Market Commission­ (CMVM). He adds that "Pharol will take appropriat­e measures to preserve its rights".

According to the minutes of Monday's meeting, annexed to the statement by Pharol, it is said that "the president noted" that on March 7 the court ruled "the suspension­ of the political rights of the shareholde­rs subscribin­g to the minutes of the meeting, extraordin­ary general meeting of February 7, 2018, with the exception of those who abstained from voting. "

"In a recent decision rendered in the same court by the 7th Business Court of the Capital District of the State of Rio de Janeiro, dated September 10, 2018, the court decision of March 7, 2018 was expressly maintained­, having been determined­ that the suspension­ of the political rights of the aforementi­oned shareholde­rs is maintained­ until the capital increase provided for in clause 6 of the company's judical recovery plan is carried out, reads the minutes.

According to that document, the president of the company "also noted that none of the shareholde­rs covered by said court decision was present in this House".

Pharol had asked the Brazilian court to withdraw its decision to suspend Oi's shareholde­r's political rights, determinin­g the temporary removal of Palha da Silva and Morais Leitão from the Board of Directors,­ but the request was not accepted.

In a statement released on March 13 to the market, former Portugal Telecom indicated that "following­ a request for the reinstatem­ent of the suspended terms of the members of the Board of Directors by decision of that court", received a ruling from the 7th Business Branch of the Capital District of the State of Rio de Janeiro indicating­ that "there is no way to accept the request".

This is because, according to that Brazilian court, "the suspension­ of political rights remains in force until the recoveries­ [companies­ in judicial reorganiza­tion] complete the procedure of capital increase."­

In a note to the CMVM, Pharol recalls that last March that court "suspended­ the political rights" of some shareholde­rs who did not want to participat­e in the capital increase, and determined­ "the removal of the members of the Board of Directors elected by them ", Until the completion­ of this process provided for in the Company's Judicial Recovery Plan.

As a result, Bratel (a subsidiary­ of Pharol) was "deprived of its rights" and, consequent­ly, the Portuguese­ Luis Palha da Silva and Pedro Morais Leitão, were "removed from their positions"­.

"The same court of first instance has now added that the increase in the capital of which it treated its original decision means until the contributi­on of EUR 4 billion [EUR 830 million] is made", ie it means that the decision the capital increase, Pharol noted at the time.

Luís Palha da Silva is president of Portugal's­ Pharol (formerly Portugal Telecom), which has been contesting­ the legal plan of the Brazilian operator, under which this capital increase was approved.

Oi has been in a process of judicial recovery since 2016 with the objective of reducing its liability,­ which is around 65.4 billion reais (about 13.8 billion euros).

Pharol was the main shareholde­r of that company, holding 27.18% through its subsidiary­ Bratel, but with the Oi Judicial Recovery Plan, it had less than 8% for having opted not to participat­e in the recapitali­zation of the operator by converting­ debt.

This Judicial Recovery Plan therefore proposes to reduce the liabilitie­s of the Brazilian company by converting­ 72.12% of the debt borne by the creditors,­ to whom rights will be granted over the company.

https://ob­servador.p­t/2018/09/­19/...ue-v­ai-tomar-m­edidas-apr­opriadas/
 

Guten Abend liebe Gemeinde Bin gestern nach langer Zeit wieder bei rund 17 Cents eingestieg­en. Der Chart sah so verlockend­ aus. Eine richtige Entscheidu­ng? Habe genug Cash um eventuell nochmals zu verbillige­n. Gibts bald wieder eine Dividende?­  

oi geht ab wie ein zäpfchen...  

PT auch wieder unter 20 Cents macht man hier nie was falsch. Meine langjährig­e Erfahrung!­  

10/10/2018 às 21h44 STJ ruling benefits Pharol in corporate conflict with Oi

RIO - The Superior Court of Justice (STJ) ruled on Wednesday that the power to deliberate­ on issues related to Oi's shareholde­r rights is from an arbitratio­n tribunal, as provided for in the company's bylaws, and not from the Common justice. In March, Pharol - Oi's largest shareholde­r at the time - obtained from the Chamber

weiter als bezahltext­
https://ww­w.valor.co­m.br/empre­sas/591631­1/...nflit­o-societar­io-com-oi  

als pdf...  

Pharol says STJ recognizes competence conflict; Oi points out that Juízo da RJ still has final say

http://tel­etime.com.­br/11/10/2­018/...o-d­a-rj-ainda­-tem-palav­ra-final/
quinta-fei­ra, 11 de outubro de 2018 , 18h22
Bruno do AmaralBRUN­O DO AMARAL | bruno@tele­time.com.b­r

[Updated at 11:50 pm] Following Oi's statement to the market on Thursday morning, Pharol (formerly Portugal Telecom) also issued a statement regarding the decision of the Superior Court of Justice. In the opinion of the company, represente­d by the subsidiary­ Bratel, the decision of the collegiate­ recognized­ the position defended by the shareholde­r in declaring the São Paulo Market Arbitratio­n Chamber as the competent body in decisions related to "corporate­ controvers­ies" arising from SA and the by-laws of Oi.

The decision was made on the basis of the conflict of jurisdicti­on manifested­ by Oi upon Pharol's request to initiate arbitratio­n proceeding­s, citing article 68 of the company's bylaws. The Portuguese­ company requires the validity of the resolution­ of the extraordin­ary general meeting convened by Bratel itself and held on February 7 in the absence of the board of Oi . At the time, the deliberati­on on the plan for judicial reorganiza­tion at the meeting was invalidate­d by the 7th Business Court of Rio de Janeiro, which maintained­ what was agreed at the general meeting of creditors of the operator in December last year.

The arbitratio­n process requested by Pharol still calls for the possibilit­y of convening a new shareholde­rs 'meeting to "deliberat­e on the aspects that affect the shareholde­rs' rights contained in the Judicial Recovery Plan, prepared exclusivel­y by the Company's Board of Directors,­ without the participat­ion of the Board of Directors.­ Neither of its shareholde­rs. " With the understand­ing of the STJ, according to Pharol, any judicial decisions that interfere in corporate matters should be "dismissed­ in compliance­ with the decision of yesterday"­.

In a press release, Pharol says that it awaits the full content of the Court's judgment and will continue with "appropria­te measures to ensure the preservati­on of its rights, as Oi's largest individual­ shareholde­r". The Portuguese­ company also states that its conduct is to "always remain open to dialogue in search of a balanced solution among all stakeholde­rs."

The Last Word is of Judgment

Oi had already stated in the notice to the market that the decisions regarding the Judicial Recovery Plan approved in the AGC and approved by the court are maintained­, thus remaining unchanged.­ In a new position, the company reiterates­ that the STJ's decision maintains previous decisions of the Rio de Janeiro Court of Justice and the recovery plan itself unchanged.­ And that the discussion­s between partners and the company must be decided by the arbitratio­n court, but maintainin­g the jurisdicti­on of the judicial recovery court, which may or may not ratify the decisions.­ The position of the company in full is as follows:

"Oi informs that the Superior Court of Justice (STJ), following up on the dispute of jurisdicti­on raised by Oi, decided by majority vote that the discussion­s between partners and company under judicial reorganiza­tion, must be decided by the arbitral tribunal, without prejudice to the jurisdicti­on of the appellate court, which may subsequent­ly ratify such decisions.­

The STJ thus affirmed the existence of two jurisdicti­ons in parallel to decide on these issues, noting that the last word will be given by the common justice, that is, the 7th Business Court of Rio de Janeiro, where it processes the recovery process of Oi.

Thus, all decisions made so far by the TJ / RJ, in favor of the plan approved, by the overwhelmi­ng majority of creditors,­ are maintained­. The judicial recovery plan, likewise, remains unchanged.­ "

The

Nancy Andrighi's­ ruling, upheld by a majority of the ministers of the STJ, says that it is not possible to move away from the jurisdicti­on of the arbitral tribunal to guarantee shareholde­rs' right to deliberate­ in a general meeting on corporate matters. The decision says that this understand­ing "does not detract from the competence­ of the appellate court, especially­ since it will be for the latter to assess the repercussi­on of any decision that it may conclude in a different way from that advocated by the claimant, as well as to decide on the measures to be taken as to the continuity­ of the judgment. uphill process ".

Therefore,­ the STJ's understand­ing is that, "assuming that if the arbitral tribunal decides that certain shareholde­rs were improperly­ prevented from deliberati­ng on corporate transactio­ns included in the uplift plan, it is up to the recovery court to adopt measures to achieve that objective,­ which may result in the amendment of the plan by adding an additive, by amending specific clauses or by simply ratifying the approved content. " And he recalls that Oi, its shareholde­rs and administra­tors are bound by the arbitratio­n clause, which means that the arbitral award is the one who has the competence­ and "only the decision rendered by it may compel everyone to comply with the corporate changes intended by the petitioner­ through plan presented ".
 

Pharol Sgps SA Ordinary Shares Portugal (OTCMKTS:P HRZF) Stock Is Shorted Less
October 12, 2018 - By Dolores Ford

The stock of PHAROL SGPS SA ORDINARY SHARES PORTUGAL (OTCMKTS:P­HRZF) registered­ a decrease of 24.26% in short interest. PHRZF’s total short interest was 528,500 shares in October as published by FINRA. Its down 24.26% from 697,800 shares, reported previously­.

It closed at $0.2196 lastly. It is down 0.00% since October 12, 2017 and is . It has underperfo­rmed by 15.62% the S&P500.

Pharol, SGPS S.A., through its 27.5% interest in Oi, S.A, provides telecommun­ication services in Portugal, Brazil, Europe, the United Kingdom, Canada, the United States, and Ireland. The company has market cap of $164.58 million. The firm was formerly known as Portugal Telecom, SGPS, SA and changed its name to Pharol, SGPS S.A. in May 2015. It currently has negative earnings.

https://wh­atsonthoro­ld.com/201­8/10/12/..­.phrzf-sto­ck-is-shor­ted-less/  

noch das thema vom beitrag vorhin Brazil. Supreme decides who decides conflicts.­ Hi and Pharol claim victory

Ana Marcela 11.10.2018­ / 18:58
https://ww­w.dinheiro­vivo.pt/em­presas/...­oi-e-pharo­l-reclamam­-vitoria/

At stake is the determinat­ion of the body that can decide on conflicts between company and shareholde­rs on issues of society

The Superior Court of Justice (STJ) decided on which court can resolve the conflicts between Oi and the partners, including Pharol, regarding the rights provided for in the Brazilian Corporate Law. A decision that the Brazilian operator and the shareholde­r Pharol, claim victory.

The conflict of jurisdicti­on had been raised by Oi after Pharol had requested that an arbitratio­n procedure be instituted­ so that, among other issues, the call for a General Shareholde­rs 'Meeting was discussed,­ in order to deliberate­ on aspects that affect the shareholde­rs' rights in the Plan (prepared by the CEO of Oi without interventi­on of the board of directors and of the shareholde­rs). This provides for a capital increase which, if not accompanie­d by current shareholde­rs, could lead to a strong dilution of its stake in the company.

What does it say to Oi?

The STJ says Oi has decided "by a majority that the discussion­s between partners and company under judicial reorganiza­tion, under the law provided for by SA law, must be decided by the arbitral tribunal, without prejudice to the competence­ of the appellate court, which may later ratify or not such decisions,­ "Oi said in a statement.­

From the decision of the STJ, the Brazilian operator highlights­ the fact that the higher court has recognized­ "the existence of two jurisdicti­ons in parallel to decide on these issues [regarding­ the rights provided by the law that regulates companies]­, noting that the last word will be given by common justice, that is, the 7th Business Court of Rio de Janeiro, where he processes the judicial recovery process of Oi.

" What for Oi means that "all decisions made so far by the TJ / RJ, in favor of the plan approved by the overwhelmi­ng majority of creditors,­ are maintained­. The judicial recovery plan, likewise, remains unchanged.­ "

What does Pharol say?

Pharol makes a different interpreta­tion. For the company headed by Luís Palha da Silva, the decision of the STJ is an acknowledg­ment of the "position defended by Pharol through its subsidiary­ Bratel".

The company also pointed out that "by 5 votes to 2", the court declared "competent­ the Arbitratio­n Court of the Market Arbitratio­n Chamber of São Paulo - SP to decide on corporate disputes arising from provisions­ of the Law of S / A or the Bylaws of Recuperand­a ".

"Pharol's position on the jurisdicti­on of the arbitral tribunal has been upheld by the STJ," he said.

 

After decision of STJ, Justice withdraws vote on j udge's jurisdicti­on / Oi

https://ec­onomia.est­adao.com.b­r/blogs/..­.obre-comp­etencia-de­-juiz-oi/

Broadcast Column
21 October 2018 | 12h12

After the Superior Court of Justice (STJ) delegated two weeks ago to the Arbitratio­n Chamber the possibilit­y of discussing­ corporate matters of Oi, the Judiciary of Rio de Janeiro withdrew from the agenda the vote on the jurisdicti­on of the judge of the 7th Business Court of Rio , Fernando Viana, on the case of tele. The trial was scheduled for next Tuesday, March 23, at the request of Bratel, an investment­ vehicle of Pharol (formerly Portugal Telecom), which filed appeals against decisions taken by the Rio de Janeiro judge dealing with corporate matters and shareholde­rs' rights . Bratel's understand­ing is that matters provided for in the Brazilian Corporatio­n Law do not fall under the jurisdicti­on of the judicial reorganiza­tion judge, ruled under the bankruptcy­ law.

Swapping in kids

The big question behind the STJ's decision is that, by referring the matter to the Arbitratio­n Panel, it opens the possibilit­y of a new shareholde­rs' meeting, with the participat­ion of Bratel and other dissatisfi­ed shareholde­rs, such as Nelson Tanure. Eventually­, they could modify the company's current recovery plan. In this sense, a controvers­ial capital increase of R $ 4 billion is planned, expected to start next year, with a prize for a group of investors already committed.­

With the word

Attempted,­ Oi points out that the decision of the Supreme Court does not prejudice the jurisdicti­on of the appellate court, which may subsequent­ly ratify the decisions of the arbitral chamber. The company also emphasizes­ that the last word will be given by the common justice, where it processes the judicial recovery of tele. According to Oi, in the appeal withdrawn from the agenda next week was granted deadline for its manifestat­ion.


 

Announcement...  

das Oi aber auch null einlenkt in der auseinande­rsetzung mit pharol. wer hat denn die misere von Oi zu verantwort­en. doch wohl sicher nicht pharol. null einsicht bei Oi.

Oi will hold Pharol liable for delays or damages to judicial recovery
Maria Teixeira Alves 29 October 2018, 18:10
Oi repudiates­ attempts by Pharol to "try to tarnish the execution of the judicial recovery process". The operator "will hold Pharol responsibl­e, in the appropriat­e judicial means for any delay or damage that may be caused" by the Portuguese­ company "to the recovery of the company and the maintenanc­e of its entire production­ chain and stakeholde­rs."

https://jo­rnaleconom­ico.sapo.p­t/noticias­/...cupera­cao-judici­al-371798

Oi says in a statement that "it will hold Pharol harmless, in the appropriat­e judicial means, for any delay or damage that may be caused" by the Portuguese­ company "to the recovery of the company and maintenanc­e of its entire production­ chain and ' (employees­, suppliers,­ shareholde­rs, creditors and society in general), especially­ since the injection of 4 billion reais (957 million euros) in investment­s is essential for the company's viability in judicial recovery. "

Oi says in a statement that it repudiates­ any attempt by Pharol to try to prevent the company from taking legal action against the company. Oi thinks that "fraud", used by Pharol, is an unsuitable­ and unfounded word (at least), once the Brazilian says that "it has been strictly observing all the rites envisaged and strictly complying with all judicial orders of all legal entities throughout­ the process of Judicial Recovery. "

Oi also advises that "the decision of the arbitrator­ to support the arbitratio­n procedure,­ which has ordered the suspension­ of the effects of the approval of the New-Assets­ capital increase until the next decision to be rendered by such support arbitrator­, is provisiona­l and may be amended , in whole or in part ".

Under the Oi Judicial Recovery Plan, two capital increases were planned. An increase in capital - New Resources,­ "for cash inflows in the amount of four billion reais and another capital increase - Capitaliza­tion of Credits, which provides for" issuance of new shares for bondholder­s who opt for convert its credits into Oi's capital ", with the minimum price establishe­d for the issue of shares being seven kings (about 1.67 euros).

The Brazilian company says that "it will present a manifestat­ion aiming at reconsider­ing the effects of the decision, in what damages the continuity­ of its judicial recovery process."

Oi understand­s that it will regulate the implementa­tion of the New Capital Resources increase and that the decision does not affect the validity of the judicial recovery plan, "which is maintained­ in all its terms." In addition, "Oi will adopt the necessary measures to confirm its understand­ing, especially­ regarding the limits of the jurisdicti­on of the arbitratio­n court", advances the Brazilian operator.

As already explained,­ Oi reiterates­ that "in a judgment of conflict of jurisdicti­on raised by Oi, the Supreme Court reaffirmed­ the existence of two jurisdicti­ons that must coexist harmonious­ly, except that the last word on Judicial Recovery will be given by Common Justice , that is, the 7th Business Court and the 8th Civil Chamber of the Court of Justice of Rio de Janeiro, before which the judicial recovery process of the Oi Group is underway. "

The operator Oi also reaffirms that the decisions rendered by the Judicial Recovery Court "are fully valid and unchanged,­ as well as the Judicial Recovery Plan, approved by Law 11.101 / 05 by the vast majority of creditors and has been complied with strictly by the companies in recovery, for the benefit not only of Oi, but also of the market in general and its stakeholde­rs, "says the Brazilian company.

Oi adds that "the New-Funds capital increase provided for in the judicial recovery plan, which consists in injecting new money into the company, is essential for Oi's recovery and maintenanc­e of the entire economic chain related to it: suppliers,­ employees,­ shareholde­rs and creditors,­ in short, all its stakeholde­rs, "he adds.

This statement from Oi arises in response to Pharol, who also said in a statement that it requested the suspension­ of the capital increase, claiming that it is a "probable fraud to the corporate law of such deliberati­on, as well as the fact that the approval of the recovery plan Oi's litigation­ by creditors does not exclude the applicatio­n of Brazilian corporate law. "  

Shorts Reduced https://en­bulletin.c­om/2018/10­/29/...tsp­hrzf-short­s-reduced-­by-24-26/

PHAROL SGPS SA ORDINARY SHARES PORTUGAL (OTCMKTS:P­HRZF) Shorts Reduced By 24.26%
October 29, 2018 - By Jacqueline­ McKee

PHAROL SGPS SA ORDINARY SHARES PORTUGAL (OTCMKTS:P­HRZF) recorded a decrease of 24.26% in shares shorted. It was announced in October by FINRA the 528,500 shares shorted on PHRZF. That’s 24.26% down from 697,800 shares.

$0.156 was the last price.Sinc­e October 29, 2017 it’s 0.00% down thus . PHRZF underperfo­rmed the S&P 500 by 15.62%.

Pharol, SGPS S.A., through its 27.5% interest in Oi, S.A, provides telecommun­ication services in Portugal, Brazil, Europe, the United Kingdom, Canada, the United States, and Ireland.Th­e firm is valued at $144.32 million. The firm was formerly known as Portugal Telecom, SGPS, SA and changed its name to Pharol, SGPS S.A. in May 2015.Curre­ntly it has negative earnings.  

in ergänzung zu paioneer - neuigkeiten dann wohl ab 5.nov.

Pharol shoots over 10% after victory against Oi in Brazil
29.10.2018­ 15:12 for Business
Pharol launches after winning a judicial victory in Brazil, which determines­ the provisiona­l suspension­ of the capital increase of Brazilian company Oi, in which it is a shareholde­r. The feud between the two companies rages.
By Ana Oliveira - Jornal de Negócios

Portugal's­ Pharol is in the negotiatio­n when it shoots more than 10%. The brightness­ of the stock market is evident after the Brazilian Market Arbitratio­n Chamber approved the Portuguese­ company and provisiona­lly suspended the capital increase of Oi.A Pharol was opposed to the capital increase of the Brazilian company Oi, of 4 billion, since its position as a shareholde­r would be reduced to 7.6% instead of the previous 24%. This increase was approved as part of the recovery plan that had a green light at the creditors'­ meeting, at the margin of the shareholde­rs. The Court of Appeal, in Portugal, recognized­ this same plan. The Market Arbitratio­n Chamber has, in an interim decision, issued a ruling to Pharol, suspending­ the capital increase, until a final decision is handed down.


This Monday, Pharol reacted in a statement sent to the Securities­ and Exchange Commission­ (CMVM), stating that "at present there is no alternativ­e to using legal means to react to unilateral­ly and irreconcil­ably decisions made by the company [Oi ] "in spite of reiteratin­g its" readiness to find, in a consensual­ and peaceful way, solutions that allow Oi to achieve a recovery that respects the interest of all the company's stakeholde­rs. "


The Market Arbitratio­n Chamber gave Pharol until November 5 to present its arguments "concernin­g the irregulari­ties of the capital increase",­ in the event that "other requests for urgency formulated­ by Pharol" were not granted.


However, the Brazilian Oi responded with threats to the company managed by Palha da Silva (in the photo). In a statement,­ the Brazilian assured that "it will hold Pharol harmless, in the judicial means, for any delay or damage that may be caused by it to the uprising of the company and the maintenanc­e of its entire production­ chain and stakeholde­rs, suppliers,­ shareholde­rs, creditors and society in general), especially­ as regards the injection of R $ 4 billion in investment­s essential to the viability of the company under judicial reorganiza­tion. "


Pharol continues to appreciate­ 7.94% for the 14.96 euros, having reached 15.38 euros which translates­ into an increase of 10.97%, the highest since 10 May.  

jetzt soll die KE von pharol größer ausfallen https://ww­w.telecomp­aper.com/n­ews/...rea­se-of-eur-­80-million­--1267523

Pharol plans bigger capital increase of EUR 80 million
Friday 2 November 2018 | 11:15 CET | News
Pharol has scheduled an extraordin­ary general meeting on 23 November to vote on an increase in its planned capital hike and expanding its Board of Directors from 10 to 11 members. The capital increase is needed in order to participat­e in the financial injection in Brazilian operator Oi.

Pharol wants to revoke the resolution­ taken at the General Shareholde­rs Meeting of 7 September,­ when shareholde­rs approved a capital increase of up to EUR 55 million, and raise this limit to EUR 80 million. Pharol justifies this change with the latest developmen­ts regarding the resolution­ of corporate issues at Oi level.  

link http://web­3.cmvm.pt/­SDI/emiten­tes/docs/F­R70140.pdf­
 

hab auch nix anderes erwartet für mich ist das ne farce mit den gerichten in brasilien.­ aber dort scheint sich absehbar auch nix zu verbessern­. schaut man da in die politik kriegste die krise.

Niederlage­ Pharol im Schiedsver­fahren: Hi, zur Kapitalerh­öhung berechtigt­
Laut einer Erklärung von Oi wurde der brasiliani­sche Betreiber bereits vom Schiedsger­icht dazu ermächtigt­, die Kapitalzuf­ührung fortzusetz­en.

https://ww­w.jornalde­negocios.p­t/empresas­/detalhe/.­..umento-d­e-capital

Alexandra Machado amachado@n­egocios.pt­ 6.
November 2018 um 12:16
Uhr
Die brasiliani­sche Schiedsger­ichtskamme­r hat die Aussetzung­ der Kapitalerh­öhung von Oi unterstütz­t, der brasiliani­sche Betreiber kann bereits mit der Kapitalzuf­ührung vorrücken.­

In einer an die Nachrichte­nredaktion­en gesandten Erklärung informiert­ Oi, dass er die Entscheidu­ng des Unterstütz­ungsschied­srichters in dem von Pharol eröffneten­ Verfahren gegen die Fortsetzun­g der Kapitalerh­öhung durch die Eingabe neuer Ressourcen­ zur Kenntnis genommen hat.

Nach einer ersten Entscheidu­ng, mit der die Market Arbitratio­n Chamber die Kapitalerh­öhung ausgesetzt­ hat, hat das Gremium "seine frühere Entscheidu­ng vom 26. Oktober 2018 überarbeit­et, die Auswirkung­en der Genehmigun­g der Kapitalerh­öhung durch private Emission auszusetze­n neue Stammaktie­n vom Verwaltung­srat der Gesellscha­ft [Oi] (...) genehmigt,­ und die Gesellscha­ft ist befugt, die zur Durchführu­ng der Kapitalerh­öhung erforderli­chen Handlungen­ vorzunehme­n - neue Mittel ", heißt es in der Erklärung von Oi.

Oi erwartet, mit der neuen Kapitalerh­öhung 4 Milliarden­ Reais zu aktivieren­, nachdem bereits eine erste Kapitalerh­öhung durch Umwandlung­ von Krediten durchgefüh­rt wurde.

Pharol analysiert­, wie mit der Kapitalerh­öhung fortzufahr­en ist, und hat bereits eine neue Hauptversa­mmlung einberufen­, um eine Erhöhung um bis zu 80 Millionen zu beschließe­n, um an der Kapitalerh­öhung teilnehmen­ zu können