Debt holders of Oi SA , Brazil's most indebted phone carrier, approved the sale of merger partner Portugal Telecom's Portuguese assets to rival Altice Portugal, subject to some conditions, according to a securities filing late Monday. The company said bondholders determined that proceeds from the sale must be used to help consolidate the telecommunications industry, for paying down debt, or a combination of both.
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 10.71% or $-0.3/share to $2.50. In the past year, the shares have traded as low as $0.40 and as high as $18.50. On average, 2135210 shares of OIBR exchange hands on a given day and today's volume is recorded at 6661678.
Shares of OIBR-C fell by 10.92% or $-0.32/share to $2.61. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 42624.
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