Oi makes Brazil’s largest ever bankruptcy filing
Latin America’s biggest telecoms company – Brazil’s Oi – has filed for what is the country’s largest ever bankruptcy.
Latin America’s biggest telecoms company – Brazil’s Oi – has filed for what is the country’s largest ever bankruptcy.
Equipment maker Nokia Networks and mobile operator Oi Brasil are to create Latin America’s first ever lab for LTE-based Internet of Things experiments.
Acquisitive French telco Altice wasted little time after sealing the SFR deal before announcing it has entered into exclusive negotiations to acquire the Portuguese assets of Portugal Telecom from Brazilian telco Oi for €7.4 billion.
Telecom Italia has announced the sale of its Brazilian towers to American Tower Corp for approximately €900 million, the price tag it set out to achieve in the first place. The telco also confirmed it is weighing up its options overall in the Brazilian market, and that it is considering a tie-up of its subsidiary Tim Participações with local competitor Oi.
France-based cable group Altice has made an official bid to acquire the Portuguese assets of Portugal Telecom (PT) from Brazilian Oi for €7.03 billion. The assets in question include the Portuguese incumbent’s business excluding African operations, its Rioforte debt securities, Oi treasury shares and PT’s financing vehicles.
Telecom Italia has announced it is to sell 17% stake of its subsidiary, Telecom Argentina to New York-based investor firm Fintech. The Italian incumbent said it plans to sell Telecom Argentina’s holding company Sofora’s entire shareholding to Fintech once it has received regulatory approval from the Argentinian regulator SECOM.
Telecom Italia is said to be weighing up the possibility of buying Brazilian telco Oi in a bid to strengthen its local arm TIM Brazil) position in the South American market, where it looks likely to get squeezed if Telefónica’s purchase of GVT goes through as planned.
Telefonica has announced it will completely exit from Telecom Italia once its deal to acquire GVT from Vivendi, as agreed last week, is finalised. This means an end to a period of tense relations between the Spanish and Italian operators as they have battled over the Brazilian arm of Vivendi, and the chance to create a stronger local unit to compete in the Brazilian market.
In a bid to rescue their proposed merger Brazilian operator Oi will get a bigger piece of the combined operation – CorpCo – in return for helping Portugal Telecom (PT) out with €847 million of defaulted debt from Rioforte, which had threatened to scupper the move.
Infrastructure vendor Nokia Solutions and Networks (NSN) announced that its 3Q13 sales have dropped 24 per cent year on year to reach €2.59m.
Portuguese business assurance specialist WeDo Technologies has announced a partnership with incumbent operator Portugal Telecom (PT) that will see the firm’s rating validation and roaming management solutions offered on a SaaS model as part of PT’s new enterprise cloud offering, SmartCloudPT.
Brazilian operator Oi and its largest shareholder Portugal Telecom have agreed to merge into a combined entity called CorpCo. The deal is expected to enable CorpCo to generate operational and financial synergies, with a net present value (NPV) of approximately R$5.5bn ($2.5bn) and benefit from increased scale.
Brazilian telco Oi has offloaded non-core assets to bring in a total of around Real2.4bn (€820m).
The company said Monday that it has agreed to sell its majority stake in undersea cable operator Brasil Telecom Cabos Submarinos and its connected subsidiaries in Venezuela, Colombia, Bermuda and the US, which operate under the GlobeNet brand to Brazilian investment fund Banco BTG Pactual for Real1.74bn.
The CEO of Portugal Telecom (PT) has been appointed to lead Brazilian operation Oi, in which PT holds a 23.34 per cent stake. At a WeDo Technologies user group in May Bava spoke at length about the importance of Brazil as a growth market where he would look to apply lessons learned in Portugal.
Brazilian operators Vivo and Oi have selected their suppliers for their LTE networks. Vivo, Telefônica subsidiary in the country, has announced that Swedish vendor Ericsson will supply and implement its 4G network in the North and Mid-Western regions of Brazil, as well as the states of São Paulo, Minas Gerais, Bahia and Sergipe.
Infrastructure and services provider Nokia Siemens Networks has announced that it is to outsource a portion of its own activities to Finnish managed services player Tieto. Meanwhile the conclusion of one of the vendor’s own outsourcing deals, with Brazilian mobile operator Oi, has allowed it to cut another 3,500 workers from its roster.
Spanish carrier Telefónica said Wednesday that it has finally reached an agreement with Portugal Telecom over the acquisition of Brazilian operator Vivo.
The proposed mega merger between Brazilian carriers Telemar Participacoes, which operates under the Oi brand, and fixed line operator, Brasil Telecom, moved a step closer to reality this week as the local regulator gave preliminary approval for the deal. The acquisition was first announced in April, when Telemar announced plans to pay out Reais5.9bn (Eur2.26bn) […]
Brazilian carrier Tele Norte Leste Participacoes, which operates under the Oi brand, said Thursday it is in discussions to acquire fixed line rival Brasil Telecom. Local media have valued the deal at around $2.7bn. “Regarding possible investments in other fixed and mobile telecom companies, specifically in relation to Brasil Telecom Participacoes S.A., we inform that […]
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