Oi SA , Brazil's most indebted phone carrier, is open to all options in a potential process of industry consolidation as long as the transaction helps create value for shareholders, Chief Executive Officer Bayard Gontijo said on Friday.Rio de Janeiro-based Oi gained financial muscle to undertake a takeover or merge with a rival after shareholders in a Portugal-based subsidiary approved the subsidiary's sale on Thursday. Oi has no plans to raise funding for any deal, which could be paid for in cash or in any other form, Gontijo added.Asked whether Oi would prefer being the buyer or the target, Gontijo noted "Oi has no prejudices about the structure of a deal. It's too early to discuss whether we'd be in control of anything and we still need to see how conditions for a deal evolve."This suggests a shift in Oi's stance as Gontijo previously stressed the company wanted to lead consolidation in Brazil's telecommunications market. He made the remarks the day an unnamed source with knowledge of the situation told Reuters an Oi-led group could bid for rival TIM Participa��es SA soon.
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 3.45% or $-0.1/share to $2.80. In the past year, the shares have traded as low as $0.40 and as high as $18.50. On average, 1866460 shares of OIBR exchange hands on a given day and today's volume is recorded at 12022508.
Shares of OIBR-C fell by 2.98% or $-0.09/share to $2.93. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 695347.
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