The General Meeting of Shareholders ended already after 21:00, more than four and a half hours after it started, with the approval of the new terms of the business combination with Hi, what happens after the application of almost 900 million Euro commercial paper Rioforte, the Espírito Santo Group (GES), a company that has not complied with the payment to the Portuguese operator on time.
A major meeting attended by a quorum of 46%, with the overwhelming majority of the participants voted in favor of the proposal that was on the table and only 1.75% of votes against.
The business combination includes conducting an exchange between PT and fully owned subsidiaries Hi, PT Portugal and PT International Finance, where he was Rioforte in the application, as well as the execution of the option agreement by Portuguese operator.
PT is now with the instruments of Rioforte, against the sale of 16.9% of the share capital of Hi and 17.1% of the respective voting rights.
However, now holds a call option to repurchase the Shares of the Option Object Hi, having six years to recover from the negative impact of debt Rioforte.
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