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Huawei is to join forces with China Mobile to bid for Brazil’s Oi-report

FILE PHOTO: mobile phone Huawei logo is pictured at the IFA consumer tech trade show in Berlin, Germany, on September 5, 2019 at the latest. REUTERS/Hannibal Hanschke/File Photo

SAO PAULO (Reuters) – Chinese telecoms equipment maker Huawei Technologies Co., together with China Mobile (0941.HK is potential to enter a dispute to buy the struggling Brazilian carrier Oi SA (OIBR3.SA), in a bid to boost its presence in Latin America’s largest market, the O Globo news website reported on Saturday.

According to the media outlet, Chinese enterprises are expecting a significant growth in the industry, as Brazil will begin with the deployment of fifth-generation wireless technologies (5G), and the Oi ‘ s are of 360,000 kilometers (224,000 miles of fiber optic infrastructure is seen as an attractive asset.

Oi declined to comment on the matter, as Huawei and China Mobile, do not immediately respond to Reuters’ requests for comment.

Brazil’s largest landline carrier, has been struggling to get its turnaround from bankruptcy protection in June of 2016, and to complete the restructuring of about 65 billion reais of debt.

On Thursday, Reuters reported that, while the negotiations over the mobile network, Spain’s Telefonica SA (TEF.MC) and Telecom Italia SpA (TLIT.MI, Oi, is also engaged in preliminary discussions with AT&T Inc (T. N), and another Chinese company.

Reporting by Gabriela Mello; Editing by Daniel Wallis

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