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Oi to sell stake in Unitel

2014-09-17 12:42:00| Telecompaper Headlines

(Telecompaper) Brazilian operator Oi has announced plans to sell its 75 percent stake in Africatel. The main asset of the holding company inherited from its merger with Portugal Telecom is a stake in Angolan mobile operator Unitel. The company was earlier reported to be seeking USD 2 billion for the stake. Oi said it hopes to coordinate the sale of the company with Samba Luxco, the other shareholder in Africatel. However, the company is already in a dispute with Samba Luxco, as the latter claims the merger of Oi and PT constitutes a change of ownership, allowing it to exercise a put option to sell its stake in Africatel. Oi and PT have disputed this claim and said this could lead to an arbitration process. 

Tags: sell stake

Category:Telecommunications

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