THE Hi (OIBR3; OIBR4) will have to face a heavier bureaucracy to get out of the judicial reorganization, assess the financial market analysts after the news that the guarantee for this will depend on the approval of the Where and of the Anatel.
The tele filed the request in June 2016 and, five years later, it has a net debt of R$21.8 billion, projected to fall to R$14 billion in 2024.
“But in this period, the revenue also shrank, from R$ 26 billion to R$ 18.8 billion; and the loss increased from R$8.2 billion to R$10.5 billion last year. In the second quarter of this year, the bottom line of the balance sheet showed a recovery, with a profit of R$ 1.1 billion”, recall analysts at Investments Guide.
According to them, this necessary endorsement “creates additional bureaucratic obstacles to the process”.
“Today, the shares are at one of the lowest levels seen by the company in the year, which largely reflects the risks of the process and the great dependence on the aforementioned bodies”, points out the Great Investments. The broker has the recommendation to “keep”, with a target price of R$1.20 for common shares (OIBR3).