Oi

News Summary:

Pharol, through Tavrion PT04, acquired a 19.55% stake in Oi and Novobanco on June 27, 2026, signaling a strategic realignment in Portugal's financial and telecom sectors, a deal confirmed by Jornal Económico. This followed news from May 25 that BTG Pactual-backed fibre and data centre operator V.tal formally registered to participate in the auction for Oi Solucoes, Oi's corporate connectivity and IT division, joining established telecom players TIM, Vivo, Claro, and Sercomtel, as reported by O Estado de Sao Paulo. Earlier on May 22, Oi S.A. reported its Q1 2026 earnings, with revenue increasing 4.4% year-over-year to BRL 6.4 billion, driven by growth in mobile and fixed broadband services. However, the company's EBITDA declined 12.1% to BRL 2.3 billion due to higher operating expenses and lower margins in the fixed segment, with management emphasizing the need for improved operational efficiency and cost reduction. Previously, on May 7, TIM Brasil expressed its intention to qualify for the Oi Solucoes auction, part of Oi's judicial debt reorganization, with the auction slated for June 17 and a minimum cash bid of BRL 1.42 billion. This sale initiative began with reports on April 22 that Oi planned to sell its IT and connectivity division, Oi Solucoes, for an estimated BRL 1.4 billion as part of its ongoing efforts to reduce debt following its judicial reorganization.