January 14, 2019 / 11:16 AM / 2 months ago

Brazilian telecom Oi hires BofA Merrill Lynch as M&A adviser

FILE PHOTO: The logo of Brazilian telecoms company Oi SA is pictured inside a store in Sao Paulo, Brazil July 18, 2018. REUTERS/Paulo Whitaker/File photo

SAO PAULO (Reuters) - Brazilian telecoms carrier Oi SA (OIBR4.SA) said on Monday in a securities filing it had hired Bank of America Merrill Lynch to sell non-core business assets.

Reuters reported the news last week, citing two people with knowledge of the matter. Oi, which is going through a bankruptcy restructing, has forecast capital expenditures of 7 billion reais ($1.9 billion) a year over the next three years.

Reporting by Marcelo Rochabrun; Editing by Mark Potter

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