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Oi SA (OIBR3.SA)

OIBR3.SA on Sao Paulo Stock Exchange

4.17BRL
18 May 2018
Change (% chg)

R$ -0.03 (-0.71%)
Prev Close
R$ 4.20
Open
R$ 4.18
Day's High
R$ 4.27
Day's Low
R$ 4.03
Volume
7,059,300
Avg. Vol
5,066,147
52-wk High
R$ 6.24
52-wk Low
R$ 3.15

Latest Key Developments (Source: Significant Developments)

Brazil's Oi postpones earnings release to May 28 - filing
Tuesday, 15 May 2018 08:11am EDT 

May 15 (Reuters) - Oi SA ::BRAZILIAN CARRIER OI REPORTS Q1 NON-AUDITED EBITDA OF 1.56 BILLION REAIS - FILING.BRAZIL'S OI POSTPONES EARNINGS RELEASE TO MAY 28 - FILING.BRAZIL'S OI SAYS DELAYED EARNINGS RELEASE DUE TO DISCUSSIONS WITH AUDITORS ABOUT WHEN TO RECOGNIZE DEBT REESTRUCTURING.BRAZIL'S OI REPORTS UNAUDITED CASH POSITION OF 6.22 BILLION REAIS AT THE END OF MARCH.  Full Article

Board Of Brazilian Carrier Oi Says New Shares Will Be Issued At 7 Reais- Filing
Tuesday, 13 Mar 2018 06:04pm EDT 

March 13 (Reuters) - Oi Sa ::BOARD OF BRAZILIAN CARRIER OI APPROVES CAPITAL RAISE OF AT LEAST 7.3 BILLION REAIS, UP TO 12.3 BILLION REAIS- FILING.BOARD OF BRAZILIAN CARRIER OI SAYS NEW SHARES WILL BE ISSUED AT 7 REAIS- FILING.BRAZILIAN CARRIER OI SAYS DILUTION OF CURRENT SHAREHOLDERS WITH CAPITAL RAISE MAY REACH UP TO 70 PERCENT- FILING.  Full Article

Oi SA says Voting Rights of a Group of Shareholders Have Been Suspended
Wednesday, 7 Mar 2018 08:48pm EST 

March 7 (Reuters) - Oi Sa ::OI S.A.: SUSPENSION OF THE VOTING RIGHTS OF A GROUP OF SHAREHOLDERS.SHAREHOLDERS BRATEL S.À.R.L., SOCIÉTÉ MONDIALE FUNDO DE INVESTIMENTO EM AÇÕES, PETRORIO S.A., AURÉLIO VALPORTO, HAVE THEIR RIGHTS SUSPENDED.COURT ALSO ORDERED SUBPOENA OF CURRENT EXECUTIVE OFFICERS AND CEO OF COMPANY AND SHAREHOLDERS WHOSE VOTING RIGHTS WERE SUSPENDED.  Full Article

Pharol Says Market Arbitration Chamber Partially Accepts Urgency Measures Presented By Its Unit Bratel Against Oi
Tuesday, 6 Mar 2018 04:58am EST 

March 6 (Reuters) - PHAROL SGPS SA ::SAYS MARKET ARBITRATION CHAMBER PARTIALLY ACCEPTED REQUEST FOR URGENT MEASURES PRESENTED BY ITS UNIT BRATEL AGAINST OI‍​.SAYS ACCORDING TO MARKET ARBITRATION CHAMBER'S DECISION, OI SHOULD REFRAIN FROM IMPLEMENTING CAPITAL INCREASE.  Full Article

Court Administrator For Brazil's Oi Declares Quorum For Creditor Assembly
Tuesday, 19 Dec 2017 09:09am EST 

Dec 19 (Reuters) - Oi Sa ::COURT ADMINISTRATOR FOR BRAZIL CARRIER OI'S BANKRUPTCY CASE ANNOUNCES SUFFICIENT QUORUM FOR CREDITOR ASSEMBLY TO START.  Full Article

Pharol says ready for major dilution in Oi, to go along with cash call
Friday, 24 Nov 2017 11:46am EST 

Nov 24 (Reuters) - Portugal's holding company Pharol Sgps Sa ::CEO Luis Palha da Silva says Pharol is ready for a significant dilution of its stake in Brazil's troubled telecoms giant Oi under the latest restructuring plan.nL1N1NR02U.Pharol will seek to keep a large stake in Oi, wants to take part in a capital increase..Pharol is the largest shareholder in Brazil's troubled telecom group Oi, where it holds a 27.2 percent stake..Pharol will ponder various options, consider financial instruments to come up with cash for the capital increase..Laments a lack of cooperation of some Oi bondholders..Says the latest plan answers bondholder concerns..  Full Article

Pharol seeks to keep high stake in Oi in restructuring -CEO
Thursday, 12 Oct 2017 12:51pm EDT 

Oct 12 (Reuters) - CEO of Portugal's Pharol SGPS , the largest shareholder in Brazil's telecom firm Oi says::Oi restructuring plan presented on Wednesday is "balanced and positive"..Luis Palha da Silva says Pharol will make an effort to keep its stake in Oi at highest possible percentage after the restructuring..Pharol is not opposed to "demanding" dilution of shareholdings in Oi..A restructured Oi will be ready for mergers and acquisitions activity, not necessarily as a target..Pharol holds a 25.7 percent stake in Oi..Oi, which is in a bankruptcy protection process, submitted a debt restructuring plan that would limit the debt-for-equity swap demanded by creditors to 25 percent of its capital, far below the 88 percent proposed by a group of bondholders. nL2N1MM2JP.Further company coverage: PHRA.LS.  Full Article

Pharol Q2 net profit doubles to 57.6 million euros YoY
Wednesday, 31 Aug 2016 01:55am EDT 

Pharol SGPS SA : Said on Tuesday Q2 net profit doubles to 57.6 million euros ($64.2 million) versus 28.5 million euros year ago . The book value of Pharol's investment in Oi as of June 30 amounted to 99.8 million euros . "The second half of 2016 will be marked by the evolution of the judicial recovery process (...) in which investee Oi is involved" CEO Luis Palha da Silva said . Q2 EBITDA loss at 1.9 million versus loss of 5.3 million euros year ago . Q2 gains in joint ventures and associates up at 64.2 million euros versus 51.9 million euros year ago .Says intends to exclusively focus on the management of the company's current portfolio, not foreseeing diversification in its activities nor relevant investments.  Full Article

Pharol to resume trading at 0900 GMT after suspension on Oi woes
Wednesday, 22 Jun 2016 04:28am EDT 

Pharol SGPS SA : CMVM market regulator lifts suspension on trading in Pharol, which it imposed on Tuesday after Brazil's telecoms firm Oi filed for bankruptcy protection. Pharol holds a 22.5 percent stake in Oi. . Euronext Lisbon says trading to resume at 10 a.m. (0900 GMT) . Shares of Oi SA tumbled over 20 percent on Tuesday after the carrier filed for Brazil's biggest-ever bankruptcy, triggering a legal process likely to drag investors, lenders and service providers through months of uncertainty. [nL1N19D0VD] . Pharol is the successor of Portugal Telecom after its operating assets were first transferred to Oi and then sold to Altice . . Pharol has few other assets aside from the Oi stake and traders expect its shares to suffer similar losses, as Pharol's stake is at best likely to be significantly diluted in the legal process, or lost in the worst-case scenario. Further company coverage: [PHRA.LS] (Lisbon Newsroom) ((Reuters messaging rm://andrei.khalip.thomsonreuters.com@reuters.net)).  Full Article

Pharol says to defend value of shareholding in Oi
Wednesday, 22 Jun 2016 02:09am EDT 

Pharol SGPS SA : Said on Tuesday that its unit Oi SA, as well as Oi Movel SA, Telemar Norte Leste SA, Copart 4 Participacoes SA, Copart 5 Participacoes SA, Portugal Telecom International Finance BV, and Oi Brasil Holdings Cooperatief UA, filed a request on June 20 for judicial reorganization of the Oi companies with the Court of the State of Rio de Janeiro . There are no expected alterations to the management or staff structure of the Oi companies during the judicial reorganization process, and if the request is accepted, all labor obligations and benefits will be maintained . To continue to defend the value of its main asset-the participation of 27.2 percent of shares of Oi held directly and indirectly through subsidiaries to 100 percent-and to continue to follow closely the evolution of Oi during the judicial reorganization process .The request for judicial reorganization will be submitted to the general shareholders' meeting of Oi to be held on July 22.  Full Article

U.S. court to hear fight over Brazil telecom Oi's bankruptcy plan

SAO PAULO A U.S. bankruptcy court is set to hear a dispute involving Brazilian telecoms company Oi SA and major shareholder Bratel Brasil SA, Bratel said on Wednesday, as investor discontent with Oi's bankruptcy reorganization process shows no signs of abating.