Brief: Pharol Signs Agreement With Oi Reviewing Responsibilities In Tax Proceedings

Pharol SGPS SA

11/12/2024 07:12

Pharol SGPS SA  PHRA.LS :
    * SAID ON TUESDAY SIGNS AGREEMENT WITH OI REVIEWING SOME
ASPECTS
OF CONTRACTUAL FRAMEWORK IN FORCE ON RESPONSIBILITIES IN TAX
PROCEEDINGS
    * AGREEMENT APPROVED BY BOARDS OF DIRECTORS OF BOTH
COMPANIES
    * REFUNDS OF ANY AMOUNTS PREVIOUSLY PAID BY PHAROL, ALREADY
NET OF
AN AMOUNT OF 22 MILLION EUROS ARISING FROM COSTS ASSUMED BY
PHAROL ON BEHALF OF OI
    * PHAROL AND OI AGREED TO REVISE DOWNWARDS AMOUNT OF
CURRENTLY
EXISTING ESCROW ACCOUNT BALANCE WITH DECREASE OF 15 MILLION
EUROS
    * LIABILITY, RESULTING FROM AMOUNTS RECEIVED FROM TAX
AUTHORITY,
SHOULD NOW BE CANCELLED

        
 Source text: https://tinyurl.com/3u7prd8p
 Further company coverage:  PHRA.LS  

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