Oi S.A. : Material Fact - CADE's approval of the consolidation of the activities and businesses of Oi and Portugal Telecom

    Oi S.A. : Material Fact - CADE's approval of the consolidation of the
             activities and businesses of Oi and Portugal Telecom

PR Newswire

RIO DE JANEIRO, Jan. 30, 2014

RIO DE JANEIRO, Jan. 30, 2014 /PRNewswire/ -- Oi S.A. ("Oi") – BM&FBOVESPA:
OIRBR3 and OIBR4 / NYSE: OIBR – informs its shareholders and the Market in
general that the Administrative Council for Economic Defense (Conselho
Administrativo de Defesa Economica), ("CADE"), the Brazilian antitrust
regulator, has approved, without restrictions, the transaction subject of the
Material Fact dated October 2, 2013, in connection with the consolidation of
the activities and businesses of Oi and Portugal Telecom, SGPS, S.A. and that,
yesterday, the deadline for third parties to lodge appeals against the
decision or for CADE's Tribunal (Tribunal do CADE) to review the decision
expired without manifestation by such parties. For this reason, the decision
by CADE published on January 14, 2014 has been fully affirmed.

Rio de Janeiro, January 30, 2014.
Bayard De Paoli Gontijo
Investor Relations Officer
Oi S.A.

SOURCE Oi S.A.

Contact: Patricia Frajhof, +55-11-3131-1315, patricia.frajhof@oi.net.br
 
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