RIO DE JANEIRO, July 23, 2014 /PRNewswire/ -- Oi S.A.
("Oi" or the "Company," Bovespa: OIBR3, OIBR4; NYSE: OIBR and
OIBR.C), in compliance with art. 157, §4º of Law No. 6,404/76,
pursuant to CVM Instruction No. 358/02 and, in addition to the
Material Facts dated as of July 2 and
July 15, 2014, notifies its
shareholders and the market in general that, on July 22, 2014, the cure period for payment of the
commercial paper (the "Commercial Paper") issued by Rio Forte
Investments S.A. ("Rio Forte") that
was the subject of investments currently held by PT Portugal SGPS,
S.A. and Portugal Telecom International Finance B.V. expired
without the amount due on the Commercial Paper having been
paid.
The Company also discloses that, notwithstanding the Memorandum
of Understanding entered into between the Company and Portugal
Telecom SGPS, S.A. ("PT SGPS") (which provides for the transfer of
the Commercial Paper to PT SGPS in exchange for an amount
equivalent to 100% of its face value as of the date of execution of
the definitive agreements governing the exchange among the parties,
among other conditions), until the effective transfer of the
Commercial Paper, the Company's subsidiaries PT Portugal SGPS, S.A.
and Portugal Telecom International Finance B.V. will adopt all
necessary measures for the collection of the Commercial Paper and
any other acts necessary for the protection and defense of its
interests.
Oi will keep its shareholders and the market informed of any
material subsequent events related to the topics described in this
Material Fact.
Oi S.A.
Bayard De Paoli Gontijo
Chief Financial Officer and Investor Relations Officer
SOURCE Oi S.A.