|Bid||1.7100 x 0|
|Ask||1.7200 x 0|
|Day's Range||1.6900 - 1.7900|
|52 Week Range||1.2500 - 3.4400|
|Beta (3Y Monthly)||1.34|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 20, 2018 - Mar 26, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.07|
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.
Brazil's lack of reliable internet accessibility in rural areas is an increasingly critical problem for its farmers, as more agricultural equipment arriving on the market is built to be updated online to work at full capacity. Brazil's agriculture has grown at a quick pace in the last decade, putting the country at the forefront of global food production. Less than 10% of Brazilian farms have internet, according to an estimate from Tim Participações, the local arm of Telecom Italia Spa.
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.
MSCI's index of Latin American currencies fell more than 1 percent, with Brazil's real testing its lowest levels since December 2018. The real weakened 1.5 percent after a nearly unanimous vote by lawmakers late Tuesday night to strip some presidential budget power, a sign of growing defiance against President Jair Bolsonaro's economic reforms. Additionally, leaders of 11 Brazilian political parties announced they would push to remove changes affecting rural retirement and payments to the elderly and disabled from the pension reform bill, the cornerstone of Bolsonaro's economic agenda.
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. ...
Telecom stocks in Brazil posted some of their biggest gains in years on Tuesday amid expectations that a long-stalled reform in the sector may get the nod from lawmakers in the coming months. Executives at Telefonica Brasil SA told investors on an earnings call that they believed the so-called PL-79 telecom bill updating requirements for public concessions to favor new technologies could be approved by the end of 2018. In a note to clients following the call, analysts at BTG Pactual added that the science and technology commission of Brazil's Senate is due to vote on the reform on Wednesday.
An arbitration chamber run by Brazil's Sao Paulo Stock Exchange has temporarily suspended a capital hike planned by Oi SA in order to adjudicate a dispute between the major telecommunications company and a shareholder. In a statement on Monday, Oi shareholder Pharol SGPS SA said it had been given until Nov. 5 to present additional arguments to the body regarding the legality of the planned capital raise. Last December, creditors in Oi, Brazil's largest fixed line telecom company, approved a plan to restructure about 65 billion reais ($17.7 billion) in debt after 18 months of testy negotiations between bondholders and shareholders.
A Portuguese court approved on Friday a debt restructuring plan that was passed by creditors in major Brazilian telecom firm Oi SA, marking a step forward in the company's tortured bankruptcy recovery process. With the court's approval, seen by Reuters, bankruptcy courts in all relevant jurisdictions - Brazil, the United States, the Netherlands, and now Portugal - have signed off on the recovery plan, which was approved by creditors in December. In late July, Oi completed a debt-for-equity swap in which several hedge funds swapped billions of dollars in debt for fresh equity in the reorganized firm.
A Rio de Janeiro appeals court has determined that billions of dollars in fines owed to regulators by Brazil's Oi SA will be included in the company's bankruptcy recovery package, a ruling showed on Wednesday. Oi, Brazil's largest fixed line telecom company, entered bankruptcy in 2016, and in late 2017 creditors approved a plan to convert billions of dollars of debt into fresh equity. Brazilian telecoms regulator Anatel, however, which Oi owed some 14 billion reais ($3.39 billion) in fines, claimed in court that its debt should not be subject to the plan in the same manner as other debt classes.
RIO DE JANEIRO (Reuters) - Shareholders of Brazilian mobile phone operator Oi on Monday gave a nod of approval to new board chairman Eleazar de Carvalho and the rest of the slate of new board members proposed ...
SAO PAULO (Reuters) - Oi SA, Brazil's largest fixed-line telecommunications firm, has initiated high-speed broadband service in 21 cities throughout the nation, it said late Wednesday, as it deploys fresh ...
The distressed asset investment firms that are Brazilian telecom Oi SA's (OIBR4.SA) top shareholders will focus on improving the company's mobile and broadband operations instead of a near-term sale of their stakes, two sources with knowledge of the matter said. Investors have warmed to the company since bondholders scored the first major victory in a Brazilian bankruptcy proceeding after three years of battles with shareholders. Investment firms fought for the right to boost their shares by participating in the capital raise, Reuters reported last month.
Oi SA, Brazil's largest fixed line telecom company, posted on Monday a lower net loss in the second quarter helped by lower expenses. In a securities filing, the company posted second quarter net loss ...