26.10.2015 22:49:00
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Oi S.A. -- Moody's comments that potential capital injection and possible merger with TIM are credit positives for Oi; no immediate impact on ratings
New York, October 26, 2015 -- Oi S.A. ("Oi", Ba3 negative) announced today that it received a proposal to enter into exclusive negotiations with the investment group Letter One (unrated) for a potential transaction involving up to USD 4.0 billion in capital injection from Letter One into Oi, subject to the business combination of Oi and TIM Participações S.A. ("TIM" unrated), the Brazilian subsidiary of Telecom Italia S.p.A. (Ba1 negative).