Bankrupt Brazilian telecoms company Oi has agreed to sell its fixed-line services unit to Método Telecomunicações for R$60.1 million (US$11.7m).
An agreement was reached last week between the two companies over Oi's Isolated Production Unit (UPI) Telephone Services.
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This includes the transfer of its switched fixed telephony services, towers, cables, and related equipment, plus its customer base, employment contracts, and contracts with suppliers linked with Isolated Productive Unit (UPI).
The sale still requires approval from Brazil's National Telecommunications Agency (ANATEL) and the Administrative Council for Economic Defense (CADE).
