Business

Brazil’s Oi telecom: to the brink of bankruptcy and back

After six years of court-supervised recovery, Oi, Brazil’s fourth-largest telecom, may now emerge with much lower debt

oi telecom
Photo: Sidney de Almeida/Shutterstock

After multiple delays, Oi, Brazil’s fourth-largest telecom, disclosed its Q1 2022 results on Wednesday. The company, which filed for court-supervised recovery in June 2016, posted net profits of BRL 1.78 billion (USD 335,580). The figures are a world away from the BRL 3 billion net losses in the previous quarter. 

Oi also recorded BRL 4.4 billion in revenues – nearly the same result as last year, reaching “virtual stability,” as the market likes to call it.

The upturn appears to be a direct effect of Oi’s new business focus, as well as the sale of its mobile operations to the country’s...

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