Brazil’s Oi enters into exclusive talks with group including BTG for fiber optic sale

RIO DE JANEIRO: Brazilian telecom Oi SA has entered into exclusive talks with a consortium composed in part of Globenet Cabos Submarinos and a fund controlled by investment bank BTG Pactual regarding the partial sale of UPI InfraCo, a fiber optic unit, Oi said in a Thursday securities filing.

The exclusivity period will last for one month, but may be extended, Oi said. Multiple Oi assets are being sold off as part of a restructuring process being overseen by a bankruptcy court in Rio de Janeiro.