Sonangol Confirms Interest in Buying Oi's Stake in Unitel
January 06, 2020 at 05:52 pm IST
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Sonangol EP is interested in buying a 25% stake held by Brazilian telecommunications group Oi S.A. (BOVESPA:OIBR4) in Unitel S.A., the chairman of the Angolan state company told Portuguese weekly Expresso. The Oi Group, which owns PT Ventures, a shareholder of Unitel, is undergoing a legally imposed business recovery process, which has sought to sell its shareholding in the Angolan company, in order to raise significant funds. The president of Sonangol, Gaspar Martins, told the weekly that the company is analysing the possibility of acquiring the stake, but added that the move depends on the final decision of the Paris Arbitration Court. Sonangol would be entitled, if it acquires Unitel, to approximately $1 billion in dividends.
Oi SA em Recuperacao Judicial, formerly Oi S.A., is an integrated telecommunications service provider in Brazil. The Company is a switched fixed-line telephony services (STFC) concessionaire. It is engaged in the provision of STFC as a local and intraregional long-distance carrier. Its segments include Residential Services, Personal Mobility, and SMEs/Corporate. It offers a range of integrated telecommunications services that include fixed and mobile, broadband, pay television (TV), data transmission and Internet provider services. The Company's Residential Services segment is focused on the sale of fixed telephony services, including voice services, data communication services (broadband), and pay TV. The Personal Mobility segment is focused on the sale of mobile telephony services to subscription and prepaid customers, and mobile broadband customer. The SMEs/Corporate segment includes corporate solutions offered to its small, medium-sized, and large corporate customers.
OI S.A. 