Oi denies knowledge of Telefónica offer

Oi denies knowledge of Telefónica offer

M&A Equity Capital Markets Telecoms Brazil Europe

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

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