|Bid||1.2000 x 1400|
|Ask||1.8800 x 42300|
|Day's Range||1.1400 - 1.2300|
|52 Week Range||0.8253 - 4.0600|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||0.04|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Chinese telecoms equipment maker Huawei Technologies Co said on Sunday it was not interested in acquiring struggling Oi SA or any other Brazilian carrier. Brazilian newspaper O Globo reported on Saturday in its online version that Huawei was joining forces with China Mobile to potentially enter a dispute to buy Oi SA . "Huawei has no plan or interest in acquiring Oi or any other Brazilian carrier.
(Bloomberg) -- Huawei Technologies Co. and China Mobile Ltd. are exploring a partnership to bid for Brazilian phone company Oi SA, O Globo Newspaper reported, without citing a source.Huawei, the phone maker caught in disputes between China and the U.S., is seeking the bid as an opportunity to enter the Brazilian market and expand its reach for 5G technology, the newspaper said. The plan also comes as the Brazilian government wants a solution for the indebted company, O Globo added.Oi declined to comment on the report, while officials at Huawei and China Mobile couldn’t be reached after regular office hours.Speculation of the bid comes as Brazil’s Senate approved a bill to update the country’s obsolete framework for telecommunications, paving the way for Oi to implement a plan to sell up to $2 billion in non-core assets. Earlier this week, Suno Notícias reported that China Mobile has filed a request to operate in Brazil and eventually acquire Oi. The country’s telecom regulatory agency Anatel said Sept. 17 it didn’t have any official information regarding the request.The Senate’s approval also sparked speculation of talks between the Brazilian carrier and other companies. In the past week, Telecom Italia SpA and Telefonica Brasil SA both denied reports in the Brazilian media that they’re in talks with Oi.The Rio de Janeiro-based telecom operator wants to sell assets including its African unit Unitel SA and focus on the last mile of its fiber-optic network, Brazil’s largest, to get revenue growing again as it enters the last phase of a two-year judicial recovery plan.Oi posted a loss of 1.56 billion reais ($376 million) last month and said it burned about 2 billion reais of cash in the second quarter, even as investors are still recovering from the company’s $19 billion debt restructuring in December 2017. The results prompted the phone giant’s largest shareholder to seek a replacement for a new chief executive officer.(Updates with regulator’s comment on earlier report on China Mobile in fourth paragraph.)To contact the reporter on this story: Mario Sergio Lima in Brasilia Newsroom at email@example.comTo contact the editors responsible for this story: Juan Pablo Spinetto at firstname.lastname@example.org, Ian FisherFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Brazilian telecommunications firm Oi SA is in talks with Spain's Telefonica SA and Italy's Telecom Italia SpA to sell its mobile network to avoid insolvency, five people with knowledge of the matter said. Oi has been struggling to turn around its business since filing for bankruptcy protection in June 2016 to restructure approximately 65 billion reais of debt. Brazil's largest fixed-line carrier expects to raise more than 10 billion reais ($2.4 billion) by selling its mobile operations, according to two of the sources, who spoke on condition of anonymity because the talks are confidential.
The Brazilian Senate late on Wednesday approved a bill that will modernize Brazil's telecommunications law and boost companies in the sector by lifting restrictions on asset sales, according to the upper house's news service, Agencia Senado. The bill, known as PLC 79, had already passed the lower house of Congress and will now go to President Jair Bolosonaro to be signed into law. The law aims to encourage investment in broadband in remote areas of Brazil by allowing companies to own outright telecom assets, such as cellphone towers and valuable real estate, that they may sell if they so choose.
The largest shareholder in Brazilian carrier Oi SA, GoldenTree Asset Management, has requested the company to replace its Chief Executive Officer Eurico Teles, Brazilian newspaper O Estado de S. Paulo reported on Tuesday. In a letter sent to the board by the asset manager, GoldenTree, which holds a 14.5% stake in the company, said Oi needs a CEO "that may execute the operational restructuring recently proposed", the paper said, mentioning the letter was dated August 16. Oi has filed for Latin America's largest bankruptcy protection proceeding three years ago, and asset managers are now its largest shareholders, after the conclusion of a debt-for-equity swap.
Brazilian telecoms regulator Anatel said on Friday it prefers a market solution for carrier Oi SA , which has been struggling to turn around its business since filing for bankruptcy protection in June 2016. In a statement, Anatel denied a Friday report by newspaper O Estado de S. Paulo saying the Brazilian government was considering an imminent intervention in the carrier, as it fears the interruption of Oi services next year. Oi declined to comment.
The Brazilian government is considering intervention in telecommunications carrier Oi SA , as the company struggles to recover since it filed for bankruptcy protection in June 2016, newspaper O Estado de S. Paulo reported on Friday. Brazilian telecoms regulator Anatel fears an interruption of Oi services next year, Estado reported, without saying how it obtained the information. Oi declined to comment on the matter and Anatel did not immediately respond to a Reuters request for comments.
Brazilian telecom carrier Oi SA disclosed on Tuesday a new strategic plan aiming to divest up to 7.5 billion reais ($2 billion) in non-core assets and focus on its fiber-to-home (FTTH) broadband service. The company, which filed for bankruptcy protection in June 2016 to restructure approximately 65 billion reais of debt, plans to sell towers, data centers, real estate assets, its Angolan subsidiary Unitel and other non-strategic assets between 2019 and 2021. "We're now as we speak working on the sale of real estate assets," Chief Financial Officer, Carlos Brandao, said in a conference call to discuss the newly launched strategic plan with investors and analysts.
The board of Brazilian telecoms firm Oi SA has approved the former head of competitor TIM Participacoes SA as its new chief executive, newspaper O Globo reported late on Monday. Rodrigo Abreu is set to take over the top spot from current CEO Eurico Teles in December, O Globo said, without saying how it got its information. As the company is currently undergoing an in-court bankruptcy recovery process, the name will have to be approved by a judge in Rio de Janeiro, the paper said.
Brazilian telecommunications firm Oi SA reported a first-quarter net profit of 679 million reais ($170 million), in a quarter its revenue continued to fall. This compares to a profit of 30.5 billion reais in the first quarter of 2018 after Oi reached an agreement with creditors in an in-court debt reorganization of the company. In a securities filing late on Monday, Brazil's largest fixed-line operator said its net revenue fell 9.5% year-on-year to 5.1 billion reais due to a fiercer competition in Brazil.
Brazilian telecommunications firm Oi SA, trying to right itself after a string of financial losses, is boosting capital spending in a bid to return to revenue growth by 2021, executives said on Wednesday. Speaking to analysts following the release of fourth-quarter results, Chief Financial Officer Carlos Brandao said recent losses at Brazil's largest fixed-line firm were related to underinvestment. Late on Tuesday, Oi reported a fourth-quarter net loss of 3.359 billion reais ($858 million), widening 66 percent from its year-earlier loss.
Brazilian telecommunications firm Oi SA reported a big quarterly loss on Wednesday, sending shares of the heavily indebted company down nearly 5 percent in morning trading Oi, Brazil's largest fixed-line ...
Brazilian telecoms carrier Oi SA said on Monday in a securities filing it had hired Bank of America Merrill Lynch to sell non-core business assets. Reuters reported the news last week, citing two people ...
Brazilian telecoms carrier Oi SA (OIBR4.SA) has hired Bank of America Merrill Lynch to sell noncore assets such as cellphone towers and data centres, two people with knowledge of the matter said on Thursday. Oi and Bank of America had no immediate comment on the matter. Preferred shares in Oi, flat before the Reuters report, rose 1.4 percent to 1.46 reais.
Brazilian telecoms carrier Oi SA (OIBR4.SA) has hired Bank of America Merrill Lynch to sell noncore assets such as cellphone towers and data centers, two people with knowledge of the matter said on Thursday. Oi and Bank of America had no immediate comment on the matter. Preferred shares in Oi, flat before the Reuters report, rose 1.4 percent to 1.46 reais.
Oi SA, Brazil's largest fixed lined telecoms company, reported on Wednesday a net loss of 1.34 billion reais for the third quarter as revenue fell across business segments and due to restructuring costs. ...