The board of Brazilian telecommunications company Grupo Oi SA on Monday approved the sale of its Portuguese assets to France's Altice SA for 7.4 billion euros ($9.1 billion). Lisbon-listed holding company Portugal Telecom SGPS SA owns a 25.6 percent stake in Oi, which now holds Portugal Telecom's operating assets in Portugal after a merger between the two companies. Oi agreed to separate the assets for the sale from Portugal Telecom's investments in Africatel GmbH, Timor Telecom SA and Rioforte Investments, Oi said in a securities filing.
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 fell by 0.61% or $-0.0029/share to $0.47. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 10543400 shares of OIBR exchange hands on a given day and today's volume is recorded at 6967239.
Shares of OIBR-C traded higher by 3.96% or $0.019/share to $0.50. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 124580.
Portugal Telecom SGPS SA (Portugal Telecom) is a Portugal-based holding company primarily engaged in the telecommunications sector. Shares of PT fell by 8.07% or $-0.13/share to $1.48. In the past year, the shares have traded as low as $1.26 and as high as $4.87. On average, 942348 shares of PT exchange hands on a given day and today's volume is recorded at 891572.
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