Oi S.A.: Material Fact - Transference of 2,007 Telecommunications Mobile
RIO DE JANEIRO, 4 de dezembro de 2013
RIO DE JANEIRO, 4 de dezembro de 2013 /PRNewswire/ --Oi S.A. ("Oi" or the
"Company,") discloses to its shareholders and the market in general that its
subsidiaries Telemar Norte Leste S.A. ("Telemar") and BRT Serviços de Internet
S.A. ("BRTSI," and, together with Telemar, the "Sellers") entered into an
agreement with SBA Torres Brasil, Limitada, (the "Purchaser"), under which the
Sellers have undertaken to transfer shares representing 100% of the share
capital of one of their subsidiaries, which owns 2,007 telecommunications
towers used to provide mobile services, to the Purchaser (the "Transaction")
in exchange for R$1,525,000,000.00 to be transferred upon the completion of
the Transaction (the "Closing Date").
This Transaction reinforces and improves the financial flexibility of the
Company, allowing Oi to extend its debt maturities, reduce financing costs and
strengthen its liquidity. In addition, the benefits that the Company will
derive from the Transaction include the receipt of resources to be invested in
the Company's strategic businesses and the transference to the Purchaser of
the responsibilities, costs and investments in connection with the operation,
maintenance and expansion of the towers. Concurrently, the Transaction permits
the Company to continue to provide personal mobile services through the lease
of space on the towers under long-term lease agreements that contain
provisions establishing conditions in order to expand the leased space.
The completion of the Transaction is subject to compliance with the conditions
precedent established in the agreement and is expected to occur before the end
of March 2014.
Oi will inform its shareholders and the market in general of the completion of
this Transaction and of any other events that may come to affect its terms and
This Material Fact is disclosed by Oi in compliance with art. 157, § 4, of Law
No. 6,404/76 and in accordance with CVM Instruction No. 358/02.
Bayard De Paoli Gontijo
Investor Relations Officer
Corporate Taxpayers' Registry (CNPJ/MF) No. 76.535.764/0001-43
Board of Trade (NIRE) No. 33.3.0029520-8
SOURCE Oi S.A.
Contact: ContactPatricia Frajhofpatricia.firstname.lastname@example.org +55 21 31311315
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