|Bid||1.3100 x 0|
|Ask||1.3200 x 0|
|Day's Range||1.3100 - 1.3400|
|52 Week Range||1.2500 - 3.4400|
|Beta (3Y Monthly)||1.31|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 7, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.07|
Brazilian carriers Telefonica Brasil and TIM Participações will consider acquiring assets from struggling rival Oi SA if they are put up for sale, executives from both companies said on Tuesday. In September, Reuters reported that Oi was in talks with the local subsidiaries of Spain's Telefonica SA and Telecom Italia SpA to sell assets and avoid insolvency. "As the CEO of a publicly traded carrier, I have the duty to check whether or not it creates value to my shareholders once frequencies or backhauls (infrastructure networks) are made available," TIM's Chief Executive Pietro Labriola told reporters on the sidelines of Futurecom, a major telecoms event in Sao Paulo.
America Movil, Mexico's largest telecommunications company, said on Wednesday it was open to discussing a deal with Oi SA, amid speculation that the Brazilian telecom carrier is in talks to sell its assets. "Of course we are interested in doing something with Oi in Brazil," an America Movil executive said on the company's third-quarter earnings call. Oi may consider selling its mobile operation if it gets attractive offers, Chief Operating Officer Rodrigo Abreu told Reuters earlier this month.
Mexican telecommunications firm America Movil is not negotiating with Spain's Telefonica SA and Telecom Italia SpA about making a joint bid for assets of Brazilian telecoms firm Oi SA, a company spokesman said on Monday. "Absolutely nothing has been negotiated," Arturo Elias Ayub, America Movil's director of communications said. Asked whether America Movil, which is controlled by Mexican tycoon Carlos Slim, would consider making a bid for Oi holdings, Elias said the company would need to make a careful analysis of the assets in terms of prices and locations.
The law, which took five years to clear Congress, will boost telecom companies by lifting restrictions on sales of their formerly state-owned assets. It will also allow for a secondary market for trading cellphone frequencies. "Fixed-line companies got a pathway out of the over-regulated concession regime, while cellphone companies can now trade frequencies," said Ricardo Tavares, CEO of TechPolis, a telecom-policy consulting company.
Brazilian telecom carrier Oi SA may consider selling its mobile operation if it gets attractive offers, Chief Operating Officer Rodrigo Abreu told Reuters on Wednesday, following reports of interest from its largest rivals. Oi has not begun a formal sale process for its mobile unit, he added. Reuters reported last month that Oi was in preliminary talks with Spain's Telefonica SA and Italy's Telecom Italia SpA to sell its mobile network and avoid a potential cash crunch.
Brazil's telecoms carrier Oi SA is preparing to test fifth-generation wireless network (5G) during the Rock in Rio music festival, using equipment provided by China's Huawei Technology Co Ltd, to conduct one of the largest trials of the technology in Brazil. According to Oi, 5G will be used by the entire event's staff in live coverage of the attractions, while the public will be able to test the technology on handsets that will be made available during the event.
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.
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.