Brazil telecom Oi SA said on Friday that its merger with Portugal Telecom SGPS is "irreversible," dismissing calls by some PT shareholders to undo the deal now that Oi is trying to sell its Portuguese assets. Oi reiterated that the proposed Portuguese asset sale to France-based Altice will help reduce debt and allow it to participate in the expected consolidation of the Brazil market.
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 4.41% or $-0.09/share to $1.95. In the past year, the shares have traded as low as $0.40 and as high as $19.00. On average, 1218940 shares of OIBR exchange hands on a given day and today's volume is recorded at 1789900.
Shares of OIBR-C fell by 3.26% or $-0.07/share to $2.08. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 6737.
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