Brazil’s Oi in talks to sell mobile unit to Telecom Italia, Telefonica -sources
SAO PAULO, Sept 19 (Reuters) – 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.
By Carolina Mandl and Gabriela Mello