Oi (OIBR3) soars with ‘surprise’ asset sale

Hi OIBR3 OIBR4
BTG considered that rental expenses should also increase. (Image: Money Times/Gustavo Kahil)

The actions of Hey (OIBR3) even shot up more than 6% earlier with the news that the company received a proposal from NK 108, an affiliate of Highline do Brasil, for the acquisition of eight thousand telecommunications infrastructure sites for the fixed operation.

The operation, which could total BRL 1.7 billionwas not on the market’s radar because it was an asset related to the concession, according to analysts at BTG Pactual.

At around 12:30 pm, OIBR3 rose 4.3% to R$0.49 – accumulating, however, a drop of almost 60% in the last 12 months. The IBR4 rose 2.1% at the same time, at R$0.98.

The market reacts to a prospect that Oi will have more resources to meet its cash needs until 2025, when the company pays debt securities.

O BTG pondered that, despite this, rent expenses should also increase. The bank recalls, in a report signed by Carlos Sequeira and Osni Carf, that, as it is an asset linked to the concession, the sale process is not so simple.

“In addition to CADE’s approval, Oi will need to prove to Anatel that the sale of these sites will not affect the continuity of the concession’s services, since the fixed telephony operation may use towers in some cases, transmitting information via radio,” he said. .

The sale is expected to be completed by the end of this year.

Disclaimer

O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

Money Times is Top 9 in Investments!

Thanks for your vote! thanks to you, the Money Times is among the 9 largest Brazilian initiatives in the Digital Universe in Investments. If you rely on the site’s content to take good care of your money, keep voting and help Money Times become the best investment news portal in Brazil. We count on your support. CLICK HERE AND VOTE!

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

Deputy wants to keep payments of R$ 600 in Aid in 2023

Find out if Auxílio Brasil will maintain payments of R$ 600 in 2023 and what …