Company Overview

Oi S.A. is a Brazilian telecommunications company operating primarily in the telecommunications and digital infrastructure industries. Historically one of Brazil’s largest integrated telecom providers, the company has offered fixed-line voice, broadband, mobile telecommunications, and enterprise connectivity services to consumer, corporate, and government customers. Over time, Oi’s core revenue drivers shifted from legacy fixed-line services toward broadband, fiber-based connectivity, and wholesale network services, reflecting structural changes in Brazil’s telecom market.

The company was founded in 1998 following the privatization of Brazil’s state-owned telecom system and later expanded through mergers, including the combination with Brasil Telecom in 2009. Oi pursued an aggressive growth strategy in the 2000s and early 2010s, which resulted in a highly leveraged capital structure. In 2016, the company entered judicial reorganization proceedings in Brazil, one of the largest corporate restructurings in Latin America. Since then, Oi has divested major assets and repositioned itself as a more focused infrastructure-oriented telecom operator.

Business Operations

Oi’s operations are organized around a reduced set of core activities following extensive asset sales. The company’s primary operating segments include Fiber Optic Broadband Services, Fixed-Line Telephony, and Wholesale Network Services, with a declining contribution from legacy copper-based voice services. Revenue generation is increasingly tied to fiber-to-the-home (FTTH) subscriptions, enterprise connectivity contracts, and leasing of network capacity to other telecom operators.

The company controls extensive fiber optic infrastructure across Brazil and operates through key subsidiaries, including Oi Fibra and Serede, the latter focused on network deployment and maintenance. Oi’s mobile operations were sold in 2022 to competitors led by Telefônica Brasil, TIM S.A., and Claro S.A., significantly reducing operational complexity. The company continues to operate domestically, with no material international consumer operations, and relies on long-term service agreements and infrastructure sharing arrangements to support cash flow during restructuring.

Strategic Position & Investments

Oi’s strategic direction centers on becoming a leaner digital infrastructure and fiber-centric company. Core initiatives include expanding fiber network coverage in economically attractive urban areas, improving operational efficiency, and monetizing non-core assets to support ongoing restructuring obligations. The company has emphasized capital discipline and debt renegotiation rather than large-scale expansion.

Major transactions underpinning this strategy include the sale of Oi Móvel (mobile operations), divestment of data center assets, and the separation of infrastructure-focused units. Oi has also pursued strategic partnerships to accelerate fiber deployment while limiting capital expenditure. While the company has explored opportunities in digital services and network virtualization, its investment capacity remains constrained, and its strategic focus remains centered on stabilizing operations and meeting judicial recovery milestones.

Geographic Footprint

Oi’s operations are concentrated almost entirely in Brazil, where it maintains a nationwide fixed-line and fiber network footprint. The company has a particularly strong presence in Southeastern Brazil, including major metropolitan areas such as Rio de Janeiro and São Paulo, as well as meaningful coverage in the Northeast and South regions.

The company does not maintain significant operating subsidiaries or infrastructure assets outside Brazil. Its international exposure is limited to indirect relationships with global equipment vendors and technology partners rather than direct overseas operations or investments. As a result, Oi’s geographic influence is primarily domestic, with its strategic relevance tied closely to Brazil’s broadband and telecom infrastructure landscape.

Leadership & Governance

Oi S.A. is governed by a board of directors and executive management team tasked with overseeing the company’s judicial recovery process and long-term repositioning. Leadership has emphasized financial restructuring, regulatory compliance, and operational simplification as core principles guiding decision-making.

Key executives include:

• Marcelo Lopes – Chief Executive Officer
• Cláudio Abbud – Chief Financial Officer
• Rodrigo Abreu – Board Member and former Chief Executive Officer
• Bayard Gontijo – Board Member
• Bruno Sabbá – Chief Operating Officer

The leadership team operates under heightened oversight from creditors and regulators, with governance priorities focused on transparency, capital allocation discipline, and execution of the court-approved restructuring plans.