January 27, 2020
Brazilian telecommunications carrier Oi said it has agreed to sell its 25% stake in the Angolan mobile phone company Unitel to Angola's state-owned oil company Sonangol for $1 billion.
Oi's indirect subsidiary, Africatel Holdings, has already received $760 million from Sonangol and stands to receive the remaining $240 million by July with payments of at least $40 million per month starting in February, Oi said in a securities filing.
"Sonangol's obligation to make these payments is fully guarant
Brazilian telecom offloads its 25% share to Angola's state-owned oil company Sonangol for $1 bln