Oi shares are trading higher this Monday (23), in the wake of the latest information about a possible sale of its pay TV assets. At 11:12 am (Brasília time), common shares rose 6.67%, to R$ 1.44. The preferred shares () advanced 2.76%.
Oi reported having signed a binding proposal from Mileto Tecnologia SA for the acquisition of assets from the company’s pay TV operation. The proposal encompasses the TV subscriber base and associated terminal equipment, as well as other assets, rights and obligations related to the operation.
The transaction will take place through an isolated production unit (UPI), a mechanism used to sell the assets of companies undergoing judicial recovery, as is the case with Oi.
In accordance with the Memorandum of Understanding signed, Oi granted Mileto exclusivity to negotiate the Transaction and the respective documents to carry out the competitive process.
The exclusivity agreement is valid as long as the Memorandum of Understanding is in force, but without effect on the competitive process for the sale of Pay TV Assets, informs the company in judicial recovery.
