China Mobile eyes Brazil telecom operator

Source:Global Times Published: 2017/9/25 21:08:40

China's major telecom operator China Mobile is considering a buyout of its counterpart in Brazil, known as Oi, and the Chinese company is expected to have a meeting in Sao Paulo this month, media reported on Monday.

On June 20, 2016, Oi filed a request for bankruptcy, the largest in Brazil's history, with a liability of 65 billion reais ($20.7 billion), the Macao-based newspaper Macau Daily Times reported on Monday, citing Brazilian magazine Exame.

The Chinese company opened an office in Sao Paulo last week that will be the business center of the telecommunications company in Latin America, according to company officials, the report noted.

Posted in: COMPANIES

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