Brazilian telco Oi plans to sell another 1,500 to 2,000 towers as it continues its policy of offloading non-strategic assets.
Speaking on the company’s Q1 conference call Oi CEO Zeinal Bava said the disposal would happen in the medium-term,…
Brazilian telco Oi plans to sell another 1,500 to 2,000 towers as it continues its policy of offloading non-strategic assets.
Speaking on the company’s Q1 conference call Oi CEO Zeinal Bava said the disposal would happen in the medium-term, reiterating the comments he made when the company’s Q4 2013 results were released.
Oi has already sold more than 4,100 sites in the past year in two separate transactions with US towerco SBA Communications which raised US$1.3bn.
In February SBA’s CEO Jeffrey Stoops said the company would continue hunting for tower acquisition opportunities in Brazil.
In its Q1 results the mobile and fixed-line operator disclosed US$13.7bn in net debt. Oi has used proceeds from previous tower sales to extend its debt maturities, reduce financing costs and strengthen its liquidity.
Oi is in the process of finalising its merger with Portugal Telecom following a US$6.22bn capital raise which closed earlier this month.
