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General

Three candidates to take over Oi stake in Timor Telecom

Tuesday 6 September 2016 | 16:45 CET | News
Timorese businessman Abilio Araujo confirmed to the Lusa news agency that his Investel group is one of the three candidates to take over the stake of Brazilian operator Oi in Timor Telecom. In June, local businessman Nilton Gusmao, who heads ETO group, confirmed he was also in negotiations with Oi over its stake in TT. Sources close to the process told Lusa that there is also a third bidder, a Fiji-based pension fund. The expectation is that the decision on a buyer could be announced next month.

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Categories: General
Companies: Oi / PT / Timor Telecom
Countries: Timor-Leste
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