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Pharol SGPS SA (PHRA.LS)

PHRA.LS on Lisbon Stock Exchange

0.25EUR
22 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Pharol Says Files Injunction Against Oi And Its Units In Portugal
Friday, 22 Jun 2018 

June 22 (Reuters) - Pharol SGPS SA ::INJUNCTION FILED AGAINST OI SA – IN JUDICIAL REORGANIZATION AND ITS SUBSIDIARIES IN PORTUGAL .INJUNCTION AGAINST OI SA – IN JUDICIAL REORGANIZATION REQUESTING SEIZURE OF GOODS, MONEY AND RIGHTS .  Full Article

Altice to appeal against EU's decision to fine it over PT Portugal bid
Tuesday, 24 Apr 2018 

April 24 (Reuters) - Altice ::* Altice says it will appeal against the European Commission's decision to fine it 125 million euros over its PT Portugal bid nS8N1QI005.* "Altice fully disagrees with the Commission's decision, and in particular, it considers that this case differs entirely from the French Numéricable/SFR/Virgin gun jumping case, in which Altice had agreed not to challenge the allegations brought against it," the company says in a statement .  Full Article

Pharol FY Net Loss Widens To 806.5 Million Euros YoY
Tuesday, 24 Apr 2018 

April 24 (Reuters) - Pharol SGPS SA ::REPORTED ON MONDAY FY EBITDA LOSS OF 4.8 MILLION EUROS VERSUS LOSS OF 7.0 MILLION EUROS YEAR AGO.FY NET LOSS 806.5 MILLION EUROS VERSUS LOSS OF 61.9 MILLION EUROS YEAR AGO.FY RECURRING NET LOSS 13.5 MILLION EUROS VERSUS LOSS OF 61.9 MILLION EUROS YEAR AGO, VALUES ADJUSTED FOR NON RECURRING EFFECTS OF INVESTMENTS IN OI.  Full Article

Pharol Says Discovery Capital Management Decreases Stake To 4.89 Pct
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - PHAROL SGPS SA ::DISCOVERY CAPITAL MANAGEMENT NOW HOLDS 4.89 PERCENT OF VOTING RIGHTS VERSUS PREVIOUSLY STATED 5.14 PERCENT.  Full Article

Pharol says ready for major dilution in Oi, to go along with cash call
Friday, 24 Nov 2017 

Nov 24 (Reuters) - Portugal's holding company Pharol Sgps Sa ::CEO Luis Palha da Silva says Pharol is ready for a significant dilution of its stake in Brazil's troubled telecoms giant Oi under the latest restructuring plan.nL1N1NR02U.Pharol will seek to keep a large stake in Oi, wants to take part in a capital increase..Pharol is the largest shareholder in Brazil's troubled telecom group Oi, where it holds a 27.2 percent stake..Pharol will ponder various options, consider financial instruments to come up with cash for the capital increase..Laments a lack of cooperation of some Oi bondholders..Says the latest plan answers bondholder concerns..  Full Article

Pharol informs on potential court action by insolvent Espirito Santo International
Wednesday, 15 Nov 2017 

Nov 15 (Reuters) - PHAROL SGPS SA ::INFORMED ON TUESDAY ON POTENTIAL COURT ACTION BY ESPIRITO SANTO INTERNATIONAL ("IN INSOVENCY") (ESI).SAYS RECEIVERS OF ESI DECLARE THAT SUCH INSOLVENT ENTITY WILL FILE A COURT ACTION AGAINST PHAROL, CLAIMING REIMBURSEMENT OF 750 MILLION EUROS.SAYS THE RECEIVERS OF ESI DO NOT DISCLOSE THE REASONS FOR SUCH REQUEST.SAYS DOES NOT OWE ANY AMOUNTS TO ESI AND WILL WAIT TO BE NOTIFIED OF THE ANNOUNCED COURT ACTION.SAYS HAS A CREDIT OVER RIO FORTE SA ("IN INSOLVENCY") FOR THE AMOUNT OF 897 MILLION EUROS, WHICH HAS BEEN DULY CLAIMED WITH THE INSOLVENCY RECEIVERS IN LUXEMBOURG.  Full Article

Pharol seeks to keep high stake in Oi in restructuring -CEO
Thursday, 12 Oct 2017 

Oct 12 (Reuters) - CEO of Portugal's Pharol SGPS , the largest shareholder in Brazil's telecom firm Oi says::Oi restructuring plan presented on Wednesday is "balanced and positive"..Luis Palha da Silva says Pharol will make an effort to keep its stake in Oi at highest possible percentage after the restructuring..Pharol is not opposed to "demanding" dilution of shareholdings in Oi..A restructured Oi will be ready for mergers and acquisitions activity, not necessarily as a target..Pharol holds a 25.7 percent stake in Oi..Oi, which is in a bankruptcy protection process, submitted a debt restructuring plan that would limit the debt-for-equity swap demanded by creditors to 25 percent of its capital, far below the 88 percent proposed by a group of bondholders. nL2N1MM2JP.Further company coverage: PHRA.LS.  Full Article

Pharol Q2 net profit doubles to 57.6 million euros YoY
Wednesday, 31 Aug 2016 

Pharol SGPS SA : Said on Tuesday Q2 net profit doubles to 57.6 million euros ($64.2 million) versus 28.5 million euros year ago . The book value of Pharol's investment in Oi as of June 30 amounted to 99.8 million euros . "The second half of 2016 will be marked by the evolution of the judicial recovery process (...) in which investee Oi is involved" CEO Luis Palha da Silva said . Q2 EBITDA loss at 1.9 million versus loss of 5.3 million euros year ago . Q2 gains in joint ventures and associates up at 64.2 million euros versus 51.9 million euros year ago .Says intends to exclusively focus on the management of the company's current portfolio, not foreseeing diversification in its activities nor relevant investments.  Full Article

Novo Banco reduces its stake in Pharol to 9.6 pct, Hestia Investments reaches 4.7 pct
Tuesday, 5 Jul 2016 

Pharol SGPS SA : Says Novo Banco SA has reduced its stake in the company to 9.56 percent after selling 26.9 million common shares, corresponding to about 3 percent of share capital and voting rights .Says Hestia Investments DAC has increased its stake in the company to 4.7 percent after acquisition of 26.9 million common shares, corresponding to about 3 percent of share capital and voting rights.  Full Article

UPDATE 1-U.S. court to hear fight over Brazil telecom Oi's bankruptcy plan

SAO PAULO, May 16 A U.S. bankruptcy court is set to hear a dispute involving Brazilian telecoms company Oi SA and major shareholder Bratel Brasil SA, Bratel said on Wednesday, as investor discontent with Oi's bankruptcy reorganization process shows no signs of abating.