Palha da Silva: “Oi lost value too suddenly for it to be a normal situation”
Luís Palha da Silva, who runs Pharol, acknowledges that Oi’s loss of value was "too sudden" to be considered "normal". That is why the attempted merger with PT was a "strange" deal, he says.
Pharol is today one of the main shareholders of the Brazilian operator Oi, but is expected to stop being one when the company completes the conversion of debt into shares and the cash capital increase provided for in the court-supervised recovery plan it is under. Today, after the failed merger between PT and Oi, and after the former holding company turned into what is now the investment manager Pharol, its current chief executive, Luís Palha da Silva, acknowledges that the situation cannot have been normal. In an interview with ECO, in four parts, Palha da Silva also talks about the listed Portuguese company’s current shareholders.
The interview in four parts: 1 – “Receiving nothing from Rio Forte is an impossibility” 2 – “Oi lost value too suddenly for it to be a normal situation” 3 – “We cannot be barred from taking part in Oi’s capital increase” 4 – “We trust the Brazilian courts to ensure Oi’s good governance”
AI translation from the Portuguese. First published in ECO on 2 May 2018.