Portugal Telecom has inked a deal to merge its operations with Brazil-based service provider, Oi. Post merger, the entity will have a subscriber base of 100 million and annual revenue of ?12.4 billion.
Oi is Brazil?s largest fixed line operator and fourth largest wireless service provider. In 2010 Portugal Telecom had bought 22 per cent stake in Oi. The merger deal is expected to help Portugal Telecom to compete more aggressively with operators in Latin America.
