Oi sells telephone services unit to Método Telecomunicações for R$60 million

Oi, which is in judicial recovery, signed a contract with Método Telecomunicações e Comércio to sell its isolated productive unit (UPI) Oi Serviços Telefônicos. The competitive process in April selected Método’s R$60.1 million bid. The transaction covers fixed‑line telephone services, unique public‑utility numbers, tower infrastructure, public‑phone maintenance, the customer base, as well as labor and supplier contracts. Completion depends on approvals from Brazil’s antitrust regulator (Cade) and the telecom regulator (Anatel). The proceeds are intended to give Oi breathing room after it warned of a possible suspension of activities next month.