Ashmore Investment Advisors, a limited company registered in England and Wales, has increased its stake in Oi, a Brazilian telecommunications company.
The British firm now holds 31,294,794 ordinary shares, representing 9.4% of Ois shareholding.
This change comes as Oi undergoes judicial reorganization.The increase in Ashmores stake results from the capitalization of credits held against Oi.
This move aligns with the capital increase approved by Ois board of directors in meetings held on August 21 and November 4 this year.
The decision reflects ongoing efforts to restructure the companys finances.In a related development, Brazils National Telecommunications Agency (Anatel) has unanimously approved a change in Ois fixed telephony service regime.
The service will transition from a concession to an authorization model.
This decision follows negotiations between Oi and Anatel, mediated by the Federal Court of Accounts (TCU).The shift to an authorization model will allow Oi to discontinue fixed telephony services in areas where they have fallen into disuse.
This change could save the company millions in maintaining outdated infrastructure.
However, Oi must continue providing service until 2028 in 2,800 cities lacking alternative phone options.British Firm Boosts Stake in Brazilian Telecom Oi Amid Restructuring.
(Photo Internet reprodduction)British Firm Boosts Stake in Brazilian Telecom Oi Amid RestructuringOis President, Mateus Bandeira, highlighted the significance of this change.
He noted that the company can now avoid maintaining costly, obsolete infrastructure.
This includes payphones, copper cables, and renting 11 million utility poles for an outdated service.The transition marks a crucial step for Ois recovery.
Anatels decision aims to ensure a smooth shift to a sustainable model for both operators and consumers.
It also guarantees voice service in areas with no other options.Ois Turnaround: Brazilian Telecom Giant Emerges from the RedThis change grants Oi ownership of reversible assets previously slated to return to the government.
These assets include copper networks, telephone exchanges, and real estate.
In exchange, Oi must invest approximately R$ 6 billion ($1.05 billion) in telecommunications infrastructure projects.These investments will fund wireless internet networks for 4,000 schools, data center construction, and expansion of the countrys submarine cable network.
These projects aim to enhance Brazils overall telecommunications infrastructure, benefiting both the company and the nation.