August 29, 2014 / 11:10 AM / in 5 years

Brazil's Oi in talks to sell Unitel stake for over $2 bln - Bloomberg

Aug 29 (Reuters) - Grupo Oi SA, Brazil’s fourth-biggest wireless carrier, is in talks to sell its 25 percent stake in Angola’s largest mobile-phone company Unitel SA for more than $2 billion to other shareholders, Bloomberg reported, citing people familiar with the matter.

Isabel dos Santos, the daughter of Angolan President Jose Eduardo dos Santos, and state-owned oil company Sonangol are among the possible buyers, the report, dated Aug. 28, said. (

The stake in Unitel is owned by Africatel, a Portugal Telecom subsidiary in which Oi now has 75 percent ownership, meaning its economic interest in Unitel is 18.8 percent, Bloomberg reported.

Grupo BTG Pactual, one of Oi’s largest shareholders, is advising the carrier on the sale process, Bloomberg said.

“Unitel isn’t making any pronouncements on the subject,” a company spokeswoman told Bloomberg in an e-mail.

Both Oi and Unitel were not immediately available for comment to Reuters.

Oi on Wednesday unveiled plans to take over Telecom Italia’s local mobile unit, in a move sources said was aimed at breaking up the country’s second-biggest wireless carrier and upstaging merger bids by foreign rivals. (Reporting by Ankush Sharma in Bangalore; Editing by Savio D’Souza)

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