Brazil’s Oi to subdivide units

Brazilian telco giant Oi is to spin off and sell four of its businesses from its core operation.

Oi, formerly known as Telemar, is in the local equivalent of Chapter 11 bankruptcy protection and the spin-offs will happen prior to the sale of its broadband fibre unit. Oi is Brazil’s largest fixed-line operator.

Source: Brazil’s Oi to subdivide units