Exclusive: Brazil Telecom Oi Hires BofA Merrill Lynch To Sell Some Assets – Sources

www.oann.com | 7/18/2018 | Staff
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SAO PAULO (Reuters) – Brazilian telecoms carrier Oi 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.

The company aims to raise between 1.5 billion reais and 2 billion reais ($545 million) from the divestitures, the sources added, asking for anonymity because they cannot discuss the plans publicly.

Oi - Bank - America - Comment - Matter

Oi and Bank of America did not immediately comment on the matter.

Before filing for Latin America’s largest ever bankruptcy proceeding, Oi had raised around 3 billion reais by selling more than 3,600 cellular towers to the Brazilian unit of SBA Communications Corp in transactions closed in 2013 and 2014.

Oi - Bankruptcy

Oi filed for bankruptcy 2-1/2...
(Excerpt) Read more at: www.oann.com
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