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Friday, August 29, 2014

Brazil's Oi in talks to sell Unitel stake for over $2 billion - Bloomberg, (NYSE: OIBR), (NYSE: OIBR-C)

Grupo Oi SA, Brazil's fourth-biggest wireless carrier, is in talks to sell its 25 percent stake in Angola's largest mobile-phone company Unitel SA for more than $2 billion to other shareholders, Bloomberg reported, citing people familiar with the matter. Isabel dos Santos, the daughter of Angolan President Jose Eduardo dos Santos, and state-owned oil company Sonangol are among the possible buyers, the report, dated Aug. 28, said. ( stake in Unitel is owned by Africatel, a Portugal Telecom subsidiary in which Oi now has 75 percent ownership, meaning its economic interest in Unitel is 18.8 percent, Bloomberg reported.Grupo BTG Pactual, one of Oi's largest shareholders, is advising the carrier on the sale process, Bloomberg said."Unitel isn't making any pronouncements on the subject," a company spokeswoman told Bloomberg in an e-mail.

Oi SA, formerly Brasil Telecom SA, is a Brazil-based holding company engaged in the provision of Switched Fixed-line Telephony Services (STFC) domestically and internationally. Shares of OIBR traded higher by 1.74% or $0.0109/share to $0.64. In the past year, the shares have traded as low as $0.51 and as high as $2.34. On average, 16119400 shares of OIBR exchange hands on a given day and today's volume is recorded at 16678786.

Shares of OIBR-C traded higher by 3.9% or $0.0258/share to $0.69. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 1179749.