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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Telefônica Brasil S.A.    VIVT4   BRVIVTACNPR7

TELEFÔNICA BRASIL S.A.

(VIVT4)
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Brazil's Oi amends restructuring plan aiming higher offers

08/14/2020 | 04:08pm EST

SAO PAULO, Aug 14 (Reuters) - Brazilian telecom firm Oi SA proposed amendments to its restructuring plan on Friday, urging creditors to extend new loans and to get higher bids for assets put on the block.

Creditors will vote on the proposed changes on Sept. 8, as Oi plans to exit bankruptcy protection by May 2022, roughly six years after starting the process.

"After lots of talks, we concluded that the plan needed some more flexibility than initially foreseen," Chief Executive Rodrigo de Abreu said in an interview.

Oi set the floor on bids for its fiber unit at 20 billion reais ($3.7 billion) in enterprise value. It is selling a 51% controlling stake in the fiber unit, known as InfraCo, and plans to auction it in the first quarter and conclude the sale by September 2021.

For the mobile assets, Oi decided to include long-term contracts - for 3, 5 or 10 years - with its fiber unit in the total price offered by bidders. Abreu said these contracts tend to increase InfraCo's value.

Oi is in exclusive talks with TIM Participacoes SA , Telefonica Brasil and America Movil's Claro which delivered a joint 16.5 billion reais bid for the mobile assets. If they reach an agreement, the telecom providers will have the right to match any other higher bid for bankrupt Oi's cellular operations that other parties could make later.

Oi also decided to sell its TV operation for 20 million reais, in a move to eliminate more significant satellite costs. Still, the acquirer will share some revenues with Oi, as it will continue to offer TV services to its clients.

Oi is also offering creditors to pay more on their current debt if they extend new loans or letters of guarantees to the company. The proposed haircut may fall to up to 40% from 60% if creditors provide Oi with fresh money, for instance.

($1 = 5.40 reais) (Reporting by Carolina Mandl; Editing by Richard Chang)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. 2.58% 15.12 End-of-day quote.0.13%
OI S.A. 1.68% 3.02 End-of-day quote.145.53%
TELEFONICA S.A. 0.63% 3.68 Delayed Quote.-41.27%
TELEFÔNICA BRASIL S.A. -2.26% 45.34 End-of-day quote.-21.80%
TIM PARTICIPAÇÕES S.A. -0.88% 13.46 End-of-day quote.-14.10%
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Financials
Sales 2020 42 583 M 8 157 M 8 157 M
Net income 2020 4 661 M 893 M 893 M
Net Debt 2020 8 480 M 1 624 M 1 624 M
P/E ratio 2020 16,0x
Yield 2020 6,84%
Capitalization 77 663 M 14 772 M 14 876 M
EV / Sales 2020 2,02x
EV / Sales 2021 1,98x
Nbr of Employees 32 793
Free-Float 49,1%
Chart TELEFÔNICA BRASIL S.A.
Duration : Period :
Telefônica Brasil S.A. Technical Analysis Chart | VIVT4 | BRVIVTACNPR7 | MarketScreener
Technical analysis trends TELEFÔNICA BRASIL S.A.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 59,00 BRL
Last Close Price 45,47 BRL
Spread / Highest target 36,4%
Spread / Average Target 29,8%
Spread / Lowest Target 23,2%
EPS Revisions
Managers
NameTitle
Christian Mauad Gebara Chief Executive Officer & Director
Eduardo Navarro de Carvalho Chairman
David Melcon Sanchez-Friera Chief Financial & Investor Relations Officer
Francisco Javier de Paz Mancho Director
Luiz Fernando Furlán Director
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