Oi sets sights on international expansion; targets Portuguese-speaking African markets

13 Jan 2009

Fresh from the successful takeover of Brazilian telecoms operator Brasil Telecom (BrT), Oi (Telemar) has revealed plans to extend its overseas reach by investing in Portuguese-speaking African markets. After taking control of (BrT) Friday, Oi chairman, Luiz Eduardo Falco, told reporters that BRL30 billion would be invested in the newly enlarged company over the next five years, as it looked to increase its customer base from the current 53 million to more than 110 million, including 30 million in foreign markets. Falco said his firm has put in place an international expansion strategy which focuses on Latin America, the Caribbean and Portuguese-speaking Africa.

Brazil, Oi