Oi earmarks 70% of capex for fiber optic unit in 2021

Oi earmarks 70% of capex for fiber optic unit in 2021

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Brazilian telecommunications company Oi will allocate 70% of capital expenditures, or capex, next year to its fiber optic infrastructure company InfraCo as it plans to sell a stake in the division as early as the first quarter of 2021, CEO Rodrigo Abreu said on Friday. "We have a higher capex next year going to InfraCo... [but] we do not expect to have the completion at the beginning of the year," said Abreu during an earnings call with analysts. Abreu added that he expects to close the deal lat

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