Brazil's Oi receives bid for its fiber optics unit from Ufinet.



Brazil’s Oi is Latin America’s third largest telecommunications company and has struggled financially in recent years. The company, which is now trying to exit bankruptcy protection, has made efforts to sell off divisions in order to once again be on a sound footing.


In late July, the company received a bid to buy its mobile assets, and now, they have received a bid for an undisclosed amount from Unifet to buy their fiber business. The company has had to make difficult decisions to ensure the Oi can recover and return to profitable growth.


Ufinet has more than 40,000 miles of optical networks in Latin America and is co-owned by the European utility Enel and the private equity firm Cinven.