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Oi Q3 revenues down 4.5% to BRL 8.8 billion
2014-11-13 16:22:00| Telecompaper Headlines
(Telecompaper) Brazilian operator Oi reported net revenues of BRL 8.842 billion in the third quarter of 2014, down by 4.5 percent compared to a year earlier. Revenues from its operations in Brazil decreased 5.1 percent to BRL 6.738 billion, while revenues from the Portuguese operations dropped 4.5 percent to BRL 1.883 billion. EBITDA fell 1.3 percent BRL 3.003 billion, and the EBITDA margin was 34.0 percent, up 1 percent point from a year ago. Net debt totaled BRL 47.799 billion at the end of September, up 58.3 percent from a year ago. Capex dropped 14.0 percent to BRL 1.670 billion. In Brazil, Oi lost 232,000 fixed lines in the quarter for a total 11.128 million, down 8.0 percent year-on-year. Broadband customers totaled 5.241 million, an annual decrease of 1.8 percent. Oi ended Q3 with 1.032 million pay-TV customers, up 13.6 percent from a year ago and 16.4 percent more than in Q2. Oi finished the quarter with 61 percent of the homes with more than one Oi product, and residential ARPU reached BRL 73.40, up 3.8 percent from Q3 2013. Net revenues from mobile services totaled BRL 2.180 billion in the quarter, down 6.4 percent from a year earlier due mainly to the MTR cuts. Data revenues accounted for just over 30 percent of customer revenue and increased 27 percent year-on-year to BRL 500 million. Handset sales amounted to BRL 202 million, double the year-earlier figure, as smartphones grew to 76 percent of total sales. The total mobile customer base grew by 358,000 in Q3 and 3.5 percent year-on-year to 48.976 million. Mobile ARPU reached BRL 17.4, down 15.0 percent on an annual basis.
Brazilian 4G auction raises only BRL 5.85 billion
2014-10-01 09:31:00| Telecompaper Headlines
(Telecompaper) The Brazilian government will receive BRL 5.85 billion from the auction of frequencies in the 700 MHz band for 4G services, well below the BRL 8.0 billion target. Claro Brasil was awarded lot 1, for national coverage, through a bid of BRL 1.947 billion (+1% over the minimum price); TIM Brasil was awarded lot 2, with national coverage, through a bid of BRL 1.928 billion (+1% over the minimum price), while Telefonica/Vivo won lot 3, for the minimum price of BRL 1.927 billion.
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Telefonica bids BRL 20.1 billion for Vivendi's GVT
2014-08-05 08:58:00| Telecompaper Headlines
(Telecompaper) Telefonica has made a bid to acquire GVT, the Brazilian broadband operator owned by Vivendi, for BRL 11.96 billion cash and a 12 percent stake in the new Telefonica Brasil, after its merger with GVT. Based on the current value of Telefonica Brasil, the offer values GVT at BRL 20.10 billion (EUR 6.70 billion). The 60 percent of the offer in cash would be financed via a capital increase at Telefonica Brasil, subscribed by Telefonica in proportion to its current stake of 74 percent in the company. Telefonica has also offered Vivendi its stake in Telecom Italia as partial payment. Telefonica still holds 1.11 billion shares in the Italian operator, equal to 8.3 percent of its voting rights. Vivendi confirmed it received the offer and the details. While underlining that "none of its subsidiaries are for sale", the French company said its supervisory board would consider the Telefonica offer at its next meeting, in the best interests of its shareholders and the GVT employees.
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Oi sells 1,600 more sites to SBA for BRL 1.17 bln
2014-06-25 15:27:00| Telecompaper Headlines
(Telecompaper) SBA Communications announced a definitive agreement to take over 1,641 wireless sites from Brazilian operator Oi for BRL 1.17 billion (USD 527 million). Oi will enter into a long-term lease with SBA, with monthly lease payments, for antenna space on each of these sites. The sites currently have 1.4 tenants per site (including Oi) and include leases with all of the major mobile carriers in Brazil. The transaction is expected to close by year-end. It was exclusively negotiated with SBA and is on terms and conditions similar to SBA's acquisition of 2,007 sites from Oi earlier this year. SBA anticipates that the sites will contribute BRL 125.7 million of cash leasing revenue and BRL 74.2 million of tower cash flow in 2015. After this deal, SBA will own or have use rights on approximately 7,000 sites in Brazil.
ATC acquires BR Towers for BRL 2.18 bln
2014-06-16 09:12:00| Telecompaper Headlines
(Telecompaper) American Tower Corporation (ATC) said it has agreed to fully acquire Brazil's BR Towers for BRL 2.18 billion from private equity investors GP Investments, Bradesco BBI, and other shareholders. BR Towers is expected to own around 2,530 towers and the exclusive use rights for about 2,110 more in Brazil at closing. The purchase price is subject to customary adjustments, and will be given in a combination of cash and the assumption of certain existing debt. ATC expects the towers to generate BRL 292 million in annual run rate revenues and BRL 181 million in annual gross margin. The deal is believed to be immediately accretive to adjusted funds from operations upon closing. The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close in the fourth quarter.