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Oi sells GlobeNet to BTG Pactual for over BRL 1.7 bln

2013-07-16 07:07:00| Telecompaper Headlines

(Telecompaper) Brazilian telecom group Oi has agreed to sell its stake in Brasil Telecom Cabos Submarinos and its subsidiaries, located in Venezuela, Colombia, Bermuda and the US (jointly known as GlobeNet) to Brazilian investment fund BTG Pactual. The acquisition price reaches BRL 1.745 billion, subject to certain adjustments stipulated in the contract.

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