Oi

News Summary:

Oi announced an amendment to its reorganization plan on an unspecified date to improve short-term liquidity and long-term sustainability. The company's Oi Soluções segment now accounts for 50% of total revenue, driven by growth in information and communication technology (ICT). In the second quarter of an unspecified year, Oi released earnings results, highlighting its operations as a Brazilian telecommunications company providing integrated services, including fixed-line and mobile telephony, broadband, and digital solutions, with a focus on the corporate market through Oi Soluções. A downgrade of Oi's credit rating reflected worsening financial conditions, including increased cash burn and requests for waivers on coupon obligations. The company plans to address liquidity issues by 2026, partly through the sale of its V.tal stake. In the first quarter of 2025, Oi reported a 34.3% decline in consolidated net revenue due to exiting fiber and TV operations. However, Oi Soluções showed revenue growth in cloud computing and ICT services. The company implemented cost-saving measures, including reducing operating expenses by 19% and employees by 17%, and is exploring funding options. Oi aims for R$2.5 billion in accumulated cost savings by the end of 2025. A recent earnings call showed growth in Oi Soluções and cost savings, but also substantial revenue declines and cash flow challenges.