Telefonica mulls bid for Brazil’s Oi broadband fiber clients unit

LONDON: Telefonica is exploring a possible offer for a unit of Brazil’s Oi that provides broadband fiber services to retail and business customers, four people with knowledge of the situation said, in a bid to expand in its second-largest market.

The board of Oi, which filed for bankruptcy protection earlier this year, hired advisers in October to study strategic options for its fiber broadband client base, called UPI ClientCo.