|Bid||1.6900 x 0|
|Ask||1.7000 x 0|
|Day's Range||1.6500 - 1.7100|
|52 Week Range||1.2500 - 3.5600|
|Beta (3Y Monthly)||1.34|
|PE Ratio (TTM)||0.10|
|Earnings Date||Mar 20, 2018 - Mar 26, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.07|
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 ...
Oi SA, Brazil's largest fixed line telecom firm, has proposed the names for its new board of directors to be voted on by shareholders in a meeting on Sept. 3 in Rio de Janeiro. In a securities filing on Thursday, the firm proposed to keep the six members of the transitional board of directors and add five other board members. Among the new members is Maria Helena Santana, the former head of Brazilian securities industry regulator CVM.
Oi SA, Brazil's largest fixed line telecom firm, called a general shareholders' meeting on Sept. 3 in Rio de Janeiro to formally vote on a 4 billion reais ($1.07 billion) capital injection, the company said. In a securities filing made late on Wednesday night, the firm said shareholders would also consider the composition of a new board of directors and a number of by-law changes, confirming a Reuters report earlier in the day which said Oi would send the invite for the meeting as early as this week. Oi, which filed for bankruptcy protection in 2016 after buckling under 65 billion reais of debt, is currently governed by a transitional board of directors.
Oi SA, Brazil's largest fixed-line telecom firm, is about to formally call for a general shareholders' meeting, a source with direct knowledge of the matter told Reuters, as the company pushes ahead with its aggressive restructuring plan. At the meeting, likely to take place in September, 30 days after the invite, Oi's new slate of shareholders will also try to reach a decision on the structure of a new board of directors. Oi, which declined to comment, buckled under 65 billion reais of debt in 2016, filing for bankruptcy protection.
Brazilian telephone carrier Oi SA said on Wednesday that a judge in Lisbon had decided against validating the company's restructuring plan in Portugal for now, adding that the decision will not keep the plan from going into effect. In a securities filing, Oi said a judge determined that there are outstanding appeals related to the firm's restructuring of 65 billion reais ($17.4 billion) in debt that must be resolved before the Portuguese court signs off on the plan. Oi added that the decision was rooted in formalities, not on the merits of the restructuring plan, which was approved by the company's creditors in December.