Grupo Oi SA, the Brazilian telecommunications company grappling with swelling debt, hired investment bank Grupo BTG Pactual late on Tuesday to advise on a plan to win control of a larger rival. In a securities filing, Oi named BTG Pactual as a "commissioner" to find potential alternatives to purchase the stake that Telecom Italia SpA has in local carrier TIM Participacoes SA.The filing did not specify any details on the advisory contract or what those alternatives could be.Oi is in the middle of a plan to merge with Portugal Telecom SGPS SA to lower its debt and regain market share from its rivals in Brazil.
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 7.81% or $0.041/share to $0.57. In the past year, the shares have traded as low as $0.51 and as high as $2.34. On average, 16022200 shares of OIBR exchange hands on a given day and today's volume is recorded at 10616982.
Portugal Telecom SGPS SA (Portugal Telecom) is a Portugal-based holding company primarily engaged in the telecommunications sector. Shares of PT traded higher by 6.95% or $0.13/share to $2.00. In the past year, the shares have traded as low as $1.82 and as high as $5.09. On average, 1509440 shares of PT exchange hands on a given day and today's volume is recorded at 2493120.
Shares of TI fell by 0.91% or $-0.1/share to $10.90. In the past year, the shares have traded as low as $6.37 and as high as $13.54. On average, 83954 shares of TI exchange hands on a given day and today's volume is recorded at 251091.
Shares of TI-A fell by 1.59% or $-0.14/share to $8.66. In the past year, the shares have traded as low as $4.93 and as high as $10.62. On average, 34680 shares of TI-A exchange hands on a given day and today's volume is recorded at 63089.
TIM Participacoes SA (TIM) is a Brazil-based holding company engaged in the telecommunications segment. Shares of TSU traded higher by 2.3% or $0.57/share to $25.39. In the past year, the shares have traded as low as $18.77 and as high as $30.52. On average, 925217 shares of TSU exchange hands on a given day and today's volume is recorded at 701661.
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