Oi rejected USD900m offer for Unitel stake, report claims

27 Jul 2016

Brazilian telco Oi rejected an offer of ‘over USD900 million’ for a 25% stake in Angolan cellular market leader Unitel, placed by the latter’s Angolan shareholders around four months ago, writes Telecompaper citing people familiar with the matter quoted by Dinheiro Vivo. The offer reportedly included backdated shareholder dividends of around USD245 million (which Oi has repeatedly demanded from Unitel) but was apparently vetoed as ‘too low’ by Samba Luxco, the minority shareholder in Africatel, Oi’s 86%-owned holding company for the Unitel stake. According to the same sources, no new negotiations between the Brazilian/Angolan parties are scheduled.

Angola, Oi, Unitel (Angola)