Oi Brasil, the cash-strapped Brazilian operator, has now seen a significant influx of revenue after completing the sale of selected tower infrastructure to Empreendimentos e Participacoes, an affiliate of comms infrastructure group Highline.
Oi, described as the largest landline telephone operator in Brazil, has reportedly filed its second request for judicial recovery with the aim of protecting cash resources and avoiding bankruptcy.
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Last year Brookfield Asset Management Inc and the Canada Pension Plan Investment Board (CPPIB) were said to be mulling a bid for the fibre unit of Brazilian telecom firm Oi SA. Now press reports suggest that one of these two – the CPPIB – is going ahead.