Brazil's Oi eyes more asset sales to bolster cash position

SAO PAULO Wed Feb 19, 2014 9:16am EST

SAO PAULO Feb 19 (Reuters) - Brazil's Grupo Oi SA is looking to sell more assets unrelated to its main business, Chief Executive Zeinal Bava said on Wednesday, after the sale of underwater fiber optic cables helped the company avoid a net loss in the fourth quarter.

Further income from that sale will go toward bolstering the telecommunications company's cash holdings, Bava told analysts.

Oi will sell more cell towers this year, he said, without providing details on potential terms or bidders. (Reporting by Brad Haynes and Alberto Alerigi; Editing by Bernadette Baum)

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