Oi Collects US$1 Billion by Selling Stake in Angolan Telecoms Operator

The sale of shares in Unitel should relieve Oi's finances, while it is undergoing judicial reorganization.

RIO DE JANEIRO, BRAZIL - Oi has officially sold its stake in Unitel to the state-owned oil company Sonangol. The Brazilian company is under judicial reorganization and has been selling off non-essential assets. It held 25 percent of the Angolan operator's shares and the transaction totaled US$1 (R$4) billion.

Oi was to be paid R$699.1 million of the total price on Friday, January 24th. The oil company Sonangol had pre-paid US$60.9 million; the remaining US$240 million will be credited by July 31st, 2020, with a minimum monthly payout of US . . .

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