Oi to sell stake in Angolan subsidiary

01 September 2014 | Kavit Majithia


Brazilian carrier Oi is reportedly set to sell a 25% stake in its Angolan subsidiary Unitel for approximately $2 billion.

Other shareholders are interested in a possible deal, including state-owned oil company Sonangol and the daughter of Angola’s president.

Oi – through its 75% stake In Portugal Telecom – owns Unitel, and according to Bloomberg, has an economic interest in the company worth 18.8%.

Unitel has so far refused to comment on the speculation, but Oi has appointed its largest shareholder, Grupo BGT Pactual, to advise on the sale.

Oi is reportedly interested in acquiring Telecom Italia’s mobile unit in Brazil, in a bid to prevent international carriers from entering the market.