Brazil’s Oi plans to sell PT’s stake in Angola’s Unitel

8 August 2014

Portugal Telecom’s 25 percent stake in Unitel de Angola has been labelled an “asset available for sale” by Brazil’s Oi, currently in the process of merging with the Portuguese group, the Portuguese economic press reports.

An article in the newspaper Jornal de Negócios asserts that the Brazilian telecom firm is negotiating how to divest the shareholding in Angola’s biggest mobile telephone operator, though it did not reveal with whom the sale was being negotiated.

Oi, which already controls the PT group, indicated it had received no dividends from Unitel since 2013 and that the stake’s fair value was around US$1 billion.

That information is contained in the statement of results for the second quarter, the first in which PT Portugal’s accounts are totally consolidated with those of Oi.

The document shows the company posted a loss of 221 million reais, more than the 124-million real loss reported in the same period of 2013. (macauhub/AO/BR/PT)