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Oi purchases 3.9 million preferred shares of Tele Norte Celular (Brazil)

  • August 21st, 2008
  • 1:50 pm

Oi (Telemar), Brazil, in a public offer, has purchased 3.9 million preferred shares of Tele Norte Celular Participacoes, the controller of regional mobile operator Amazonia Celular.
For the purchase Oi paid a total of BRL130 million (USD80.5 million) for the shares and it now holds 94% of the preferred shares and 59% of the capital stock of the company.