Oi sells stake in Unitel

Oi sells stake in Unitel

M&A Equity Telecoms Brazil Africa

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

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