The latest news is the magazine Veja, which gives as a probable replacement of the announcement of the Portuguese manager earlier this week. In its place will Bayard Gontijo, who is currently chief financial officer of the company.
The measure is a response to the desire of the main shareholders of the group who have pressed in recent months the departure of manager. This intention has been reported by local media several times, indicating that Bava no longer has the confidence of shareholders.
The discovery that Portugal Telecom had an investment of € 900 million in commercial paper of Rioforte, which entered into default leaving the Portuguese operator in a weakened position, have been one of the decisive factors for the decision to change the management team of the company.
The same case changed the terms of the merger between Hi and PT, a process driven by Zeinal Bava team and the debt become integration, a much more damaging formula for the shareholders of PT. With the changes to the initial terms of the deal the PT holds only 25% of Hi.
the side of the PT Portugal led the process of merging Grenadier Henrique, who has also resigned.
Written under Orthographic new agreement
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