Oi seeks international expansion once BrT integration completed

23 Mar 2010

According to a Dow Jones Newswires’ report, Brazil’s largest telecoms operator by subscribers, Telemar Norte Leste Participacoes (or Oi), plans to expand its footprint on the international stage, once it completes the full integration of fellow operator Brasil Telecom (BrT). Oi chief executive Luiz Eduardo Falco is quoted by local press as saying that the global economic credit crisis has weakened possible takeover targets, making potential suitors more cautious about going after them. However, Falco believes the situation ‘opens opportunities for us to take our first steps abroad’, he said, ‘We just have to integrate Brasil Telecom [first].’ Although the Oi official declined to name specific targets, he did reveal that his firm was interested in exploring opportunities in Argentina, Colombia, Uruguay, the Middle East and Africa.

Brazil, Oi