Brazil’s Oi says court rules fiber unit to be sold to BTG funds

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Oi, which filed for bankruptcy protection in 2016 and has since been selling assets to pay creditors, said the court had determined there were no other bids on the table.

Oi in April accepted a 12.9 billion reais ($2.5 billion) offer for a 57.9% stake in its fiber optic business from BTG’s funds. Other parties, however, still had the right to make bids although BTG’s funds had the right to match any offer.

($1 = 5.23 reais)