Monday, August 01, 2016 4:18:50 AM
Mr Tanure seems that bought 4.2% of OI telephone company (company recently filed bankruptcy, being virtually bankrupt), using resources and money of company Petrorio. If the OI company have a debt around of R$ 65.4 billion, now, the Petrorio have a debt of 4.2% of this amount (R$ 2.75 billion). As news translated below.
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http://www.istoedinheiro.com.br/noticias/negocios/20160729/pharol-prepara-reacao-investidas-tanure/398043
TRANSLATE:
Pharol prepares reaction to Tanure of investees in the OI
The Pharol, main individual shareholder of OI prepares a reaction to recent attacks businessman Nelson Tanure, which recently acquired a significant share in tele. The former Portugal Telecom (PT) monitors whether Tanure is acting together with other shareholders without informing the capital market.
What the Portuguese company wants to know is whether in fact the entrepreneur would have greater voting power in assemblies to work together with other shareholders who have acquired or significantly increased the position in tele recently, including the PetroRio and background Discovery. The status of OI, each shareholder, regardless of participation has limited voting to 15% of the share capital.
The Portuguese group has 22.24% of OI through the Bratel subsidiary while Tanure has only 6.63% through Société Mondiale background.
An executive of Pharol told the story that Tanure will have to take the risks involved. The businessman tries away from OI board members linked to the former Portugal Telecom.
Sought Tanure, which is also a major shareholder of PetroRio, denied any agreement to vote. also said that oil, like any public company applies its reserves in stocks and bonds. According to him, the Discovery, which already took part in PetroRio, is "a fund has assets of $30 billion, and participation in over 100 companies around the world."
On another front, the Portuguese Pharol can attack Tanure in its position on consultation made this week by Société Mondiale the Securities and Exchange Commission (CVM). Tanure asked the authority it manifests on the suspension of voting rights of Pharol in the OI decisions. He argues that companies have significant participation in each other and exert reciprocal control rights.
The executive of the Portuguese company denies the claim. "Neither OI controls Pharol nor Pharol controls OI," he said.
The representative of the former PT did not rule out that the company participate in a possible capital increase of OI, which "will depend on the conditions."
The Pharol decided on Thursday, 28, process the shareholder of OI Aurelio Valporto, vice president of the Minority Investors Association of Brazil, after statements made to press against the Portuguese company. The information is the newspaper O Estado de S. Paulo.
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http://oglobo.globo.com/economia/recuperacao-judicial-da-oi-pharol-critica-posicao-da-bridge-19807438#ixzz4Fo63AHzr
TRANSLATE:
Judicial Recovery OI: Pharol criticizes Bridge position
The PetroRio which has Nelson Tanure as a shareholder, already has more than 4% of the tele
RIO - The Pharol, main shareholder of OI, with 22.24% of the securities of Rio tele decided to initiate a dispute against the management of investments Bridge, which has in its committee Nelson Tanure businessman, who owns 6.32% of the capital the telecommunications operator. The company, the former controlling shareholder of Portugal Telecom, said he did not consider legitimate the election of Bridge want to call a meeting to dismiss all members of the Board of Directors of OI indicated precisely by Pharol.
The OI, with debts of around R$ 65.4 billion, filed for bankruptcy last month, and since then the supertele has been subject to dispute among shareholders and international creditors. The Pharol says Tanure been using their companies to buy shares of OI swap the positions between them. The Pharol cites the case of PetroRio oil, which has the business as a shareholder, with about 4.2% of the operator's shares. Already Bridge, through the bottom of Société Mondiale investment, now has 6.32% of the papers. The Pharol also highlights the approximately 5% of the shares in the hands of the American fund Discovery, another member of PetroRio.
BRIDGE ASKS CVM VIEW
In his bid to convene a new meeting, the Bridge claims that OI and Pharol has the same directors, which, according to the manager, sets, reciprocal exercise control rights, as they are the same people that define the votes in both companies. So whether the names given by the Portuguese out of OI.
For Pharol, Nelson Tanure entrepreneur does not have a "legitimate claim" in its application, since the current board of directors has a term of two years, approved in September last year. In addition, Pharol points out that all current OI Council members appointed by the Portuguese company were not part of the former management of Portugal Telecom, except for the presence of Rafael Mora, who at the time played a non-executive position in the Portuguese tele.
For what reason the Bridge wants to change only part of the Board of Directors all decisions were always adopted unanimously by the Council. That is, the statute only good for one thing and not another - asks one of Pharol executives, who declined to be identified.
Yesterday, the Bridge application sent to the Brazilian Securities Commission (CVM) for the authority to express its opinion on the mutual interests of OI and Pharol. In the document, the Bridge asks the Pharol is prevented from voting on resolutions involving the Council of OI. Asked about the actions of PetroRio, Tanure said that like any public company, the oil company applies its reserves in stocks and bonds. "This is a common practice in the market," said the businessman in a statement.
________________________________________________________________________
http://www.istoedinheiro.com.br/noticias/negocios/20160729/pharol-prepara-reacao-investidas-tanure/398043
TRANSLATE:
Pharol prepares reaction to Tanure of investees in the OI
The Pharol, main individual shareholder of OI prepares a reaction to recent attacks businessman Nelson Tanure, which recently acquired a significant share in tele. The former Portugal Telecom (PT) monitors whether Tanure is acting together with other shareholders without informing the capital market.
What the Portuguese company wants to know is whether in fact the entrepreneur would have greater voting power in assemblies to work together with other shareholders who have acquired or significantly increased the position in tele recently, including the PetroRio and background Discovery. The status of OI, each shareholder, regardless of participation has limited voting to 15% of the share capital.
The Portuguese group has 22.24% of OI through the Bratel subsidiary while Tanure has only 6.63% through Société Mondiale background.
An executive of Pharol told the story that Tanure will have to take the risks involved. The businessman tries away from OI board members linked to the former Portugal Telecom.
Sought Tanure, which is also a major shareholder of PetroRio, denied any agreement to vote. also said that oil, like any public company applies its reserves in stocks and bonds. According to him, the Discovery, which already took part in PetroRio, is "a fund has assets of $30 billion, and participation in over 100 companies around the world."
On another front, the Portuguese Pharol can attack Tanure in its position on consultation made this week by Société Mondiale the Securities and Exchange Commission (CVM). Tanure asked the authority it manifests on the suspension of voting rights of Pharol in the OI decisions. He argues that companies have significant participation in each other and exert reciprocal control rights.
The executive of the Portuguese company denies the claim. "Neither OI controls Pharol nor Pharol controls OI," he said.
The representative of the former PT did not rule out that the company participate in a possible capital increase of OI, which "will depend on the conditions."
The Pharol decided on Thursday, 28, process the shareholder of OI Aurelio Valporto, vice president of the Minority Investors Association of Brazil, after statements made to press against the Portuguese company. The information is the newspaper O Estado de S. Paulo.
________________________________________________________________________
http://oglobo.globo.com/economia/recuperacao-judicial-da-oi-pharol-critica-posicao-da-bridge-19807438#ixzz4Fo63AHzr
TRANSLATE:
Judicial Recovery OI: Pharol criticizes Bridge position
The PetroRio which has Nelson Tanure as a shareholder, already has more than 4% of the tele
RIO - The Pharol, main shareholder of OI, with 22.24% of the securities of Rio tele decided to initiate a dispute against the management of investments Bridge, which has in its committee Nelson Tanure businessman, who owns 6.32% of the capital the telecommunications operator. The company, the former controlling shareholder of Portugal Telecom, said he did not consider legitimate the election of Bridge want to call a meeting to dismiss all members of the Board of Directors of OI indicated precisely by Pharol.
The OI, with debts of around R$ 65.4 billion, filed for bankruptcy last month, and since then the supertele has been subject to dispute among shareholders and international creditors. The Pharol says Tanure been using their companies to buy shares of OI swap the positions between them. The Pharol cites the case of PetroRio oil, which has the business as a shareholder, with about 4.2% of the operator's shares. Already Bridge, through the bottom of Société Mondiale investment, now has 6.32% of the papers. The Pharol also highlights the approximately 5% of the shares in the hands of the American fund Discovery, another member of PetroRio.
BRIDGE ASKS CVM VIEW
In his bid to convene a new meeting, the Bridge claims that OI and Pharol has the same directors, which, according to the manager, sets, reciprocal exercise control rights, as they are the same people that define the votes in both companies. So whether the names given by the Portuguese out of OI.
For Pharol, Nelson Tanure entrepreneur does not have a "legitimate claim" in its application, since the current board of directors has a term of two years, approved in September last year. In addition, Pharol points out that all current OI Council members appointed by the Portuguese company were not part of the former management of Portugal Telecom, except for the presence of Rafael Mora, who at the time played a non-executive position in the Portuguese tele.
For what reason the Bridge wants to change only part of the Board of Directors all decisions were always adopted unanimously by the Council. That is, the statute only good for one thing and not another - asks one of Pharol executives, who declined to be identified.
Yesterday, the Bridge application sent to the Brazilian Securities Commission (CVM) for the authority to express its opinion on the mutual interests of OI and Pharol. In the document, the Bridge asks the Pharol is prevented from voting on resolutions involving the Council of OI. Asked about the actions of PetroRio, Tanure said that like any public company, the oil company applies its reserves in stocks and bonds. "This is a common practice in the market," said the businessman in a statement.
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