RIO DE JANEIRO, Feb. 25, 2016 /PRNewswire/ -- Oi S.A. ("Oi",
Bovespa: OIBR3, OIBR4), in accordance with Art. 157,
paragraph 4 of Law No. 6,404/76 and in furtherance with the
Material Facts disclosed on October
26 and 30, 2015, hereby informs its shareholders and the
market in general that LetterOne Technology (UK) LLP ("L1
Technology") has issued a press release stating that it has been
informed by TIM that TIM does not wish to enter into further
discussions about a business combination with Oi in Brazil.
L1 Technology's press release stated that, without TIM's
participation, L1 Technology can't now proceed with the proposed
transaction as previously envisaged.
The full version of the Press Release disclosed by L1 Technology
is available at the Company´s website.
Given this information, Oi will evaluate the impact of this
announcement on the possibility of consolidation of the Brazilian
market.
Oi will continue to undertake its efforts towards operational
improvements and business transformation focusing on austerity,
infrastructure optimization, revisions of procedures and commercial
actions.
Oi will maintain its shareholders and the market informed with
respect to any relevant event related to the foregoing.
Flavio Nicolay Guimarães
Chief Financial Officer and Investor Relations Officer
Oi S.A.
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SOURCE Oi S.A.