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Pharol SGPS SA (PHRA.LS)

PHRA.LS on Lisbon Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Pharol H1 Net Result Turns To Loss Of 2.8 Mln Euros YoY
Tuesday, 11 Sep 2018 

Sept 11 (Reuters) - PHAROL SGPS SA ::SAID ON MONDAY H1 NET LOSS 2.8 MILLION EUROS VERSUS PROFIT 61.8 MILLION EUROS YEAR AGO.H1 NEGATIVE EBITDA 2.4 MILLION EUROS VERSUS NEGATIVE 2.6 MILLION EUROS YEAR AGO.  Full Article

Pharol Decides Not To Participate In Oi's Share Capital Increase
Thursday, 19 Jul 2018 

July 19 (Reuters) - PHAROL SGPS SA ::SAID ON WEDNESDAY DECIDED NOT TO PARTICIPATE IN OI'S CAPITAL INCREASE THROUGH CREDIT CAPITALISATION CONSIDERING THE PRICE AT WHICH SUBSCRIPTION RIGHT COULD BE EXERCISED AND CURRENT MARKET CONDITIONS OF OI'S SHARE RICE.CAPITAL INCREASE TO BE CARRIED OUT THROUGH ISSUE OF NEW SHARES TO BONDHOLDERS THAT OPTED TO CONVERT OI'S CAPITAL CREDITS, AND WITH MINIMUM ISSUANCE PRICE OF R$7.00 PER SHARE.THE DEADLINE FOR USE OF SUBSCRIPTION RIGHT RESERVED TO SHAREHOLDERS FOR THIS CAPITAL INCREASE ENDED ON JULY 16.BOARD HAS NOT YET MADE A DECISION ON A SECOND CAPITAL INCREASE THROUGH NEW RESOURCES THAT OI WILL CARRY OUT, OF WHICH THE CONDITIONS ARE NOT YET KNOWN .  Full Article

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

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Brazil's Oi owners to focus on improving business before selling stakes: sources

SAO PAULO The distressed asset investment firms that are Brazilian telecom Oi SA's top shareholders will focus on improving the company's mobile and broadband operations instead of a near-term sale of their stakes, two sources with knowledge of the matter said.