September 19, 2019
Brazil's Oi said it is unaware of an offer by Spain's Telefónica to buy shares in the Rio de Janeiro-based telecommunications company.
The Spanish online newspaper El Confidencial reported on Monday that Telefónica could acquire a stake in Oi, which is valued at roughly $6.7bn. The paper also said Telefónica could hire Morgan Stanley as the financial advisor on a possible deal, while Oi retained Bank of America in January to advise on the sale of non-core assets.
"Oi's board of executive officer
Brazilian telecom's shares rise as reports circulate that rival Vivo could acquire a stake