Brazilian telco Oi is on the look out for strategic acquisitions to diversify its business, its CFO Alex Zornig told local media.
Speaking at an event in Rio, Zornig suggested Oi was interested in buying up smaller companies. He dismissed…
Brazilian telco Oi is on the look out for strategic acquisitions to diversify its business, its CFO Alex Zornig told local media.
Speaking at an event in Rio, Zornig suggested Oi was interested in buying up smaller companies. He dismissed suggestions that Oi could buy other operators.
“Telecoms today is not only selling phones,” he said, adding that potential acquisitions would be strategic.
“I sell cable TV to you. And I have to install it, right? I may buy the installer,” he said.
Valder Nogueira, an analyst at Santander, interpreted the CFO’s comments as meaning that potential acquisitions would be small. Firms that operate on the infrastructure side or in the installation or maintenance of services, such as installing broadband, would be likely targets.
The CFO also confirmed Oi’s participation in next months 4G spectrum tender. However, Zornig criticised the rules were not clear: “The rules in this bidding process are confused, especially on guarantees issues,” he said.
