Thu, Nov. 12, 12:41 PM
- Shares of Oi (NYSE:OIBR) are sliding in U.S. trading, down 5%, after the company swung heavily to a loss in Q3, well below expectations.
- The telecom lost 1.02B reais (about $271M) in unaudited results it provided, twice as big as consensus expectations. Debt rose sharply as well.
- Net sales were off 2% and EBITDA down 4%. Interest expenses skyrocketed as net debt went up 8% in the quarter, to 37.24B reais (about $9.85B).
- The company did say it was in line to hit 2015 guidance of EBITDA of 7B-7.4B reais and improve operational cash flow of 1.2B-1.8B reais in its Brazilian operation.
- Upgraded rules for the country's fixed-line telephone concessions could be coming in about 10 weeks, says CEO Bayard Gontijo, who sees "concrete news" on the way from Brazil's government. Criticism of the regulations is coming from various quarters as a likely holdup to a proposed merger with TIM Participações (NYSE:TSU).
- Previously: Oi agrees to seven months' exclusive consolidation talks with Fridman's LetterOne firm (Oct. 30 2015)
- Previously: TIM chief: Telecom mergers will depend on Brazil rule reforms (Oct. 28 2015)
- Previously: Telecom Italia, Oi: Brazil needs looser rules before mergers (Oct. 27 2015)
- Previously: Oi, TIM give back merger-chatter gains as Brazil talks competition (Oct. 27 2015)
Wed, Nov. 4, 6:24 AM
Wed, Aug. 5, 12:14 AM
Wed, May 13, 12:19 PM
- Telefonica Brasil (NYSE:VIV) is trading 0.6% lower after profits dropped 12% in a sharply slowing Brazilian market.
- Revenues grew in Q1 bolstered by mobile sales that were up 8.4% to 5.9B reais (about $1.95B). But fixed-line services fell 4% to 2.74B reais (about $906M) amid a continuing transition to mobile.
- Total access of 97.2M (81.9M mobile, 15.3M fixed). Postpaid accesses were up 16% and mobile ARPU up 4.3% Y/Y (boosted by data ARPU that rose 26.3%).
- Broadband access declined slightly to 3.9M. Fiber-to-the-home had 429K accesses (up 82%). The IPTV base hit 111K accesses.
- About Brazil's consolidation and a talked-about deal to split TIM Participações (NYSE:TSU) with Oi (NYSE:OIBR) and America Movil (NYSE:AMX), CFO Alberto Horcajo was sanguine: "Our market position keeps getting stronger ... So if we can keep our clients and win new ones, what's the sense in paying to buy a new client base from someone without our strengths?"
- Press Release
Tue, May 5, 11:33 PM
Fri, Feb. 13, 6:19 AM
Aug. 1, 2014, 7:30 AM
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