New Street Research - OI S A (OIBRQN) ... New Street: Brazilian Consolidation: Oi - Wireless sale, but wheres the EBITDA gone?

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New Street Research

Soomit Datta

New Street: Brazilian Consolidation: Oi - Wireless sale, but where's the EBITDA gone?

Oi is set to report FY results on March 25th and, on the back of the 1/25 announcement of binding offers for Oi Infra (auction expected in Q2), for the first time is also set to split out profitability for each of the UPIs.

26/01/2021 7 EN

Underlyings

OI S A

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US6708514012 Mexican Stock Exchange Brazil

Oi S.A. ON

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BROIBRACNOR1 BM&F Bovespa - Securities, Commodities and Futures Exchange Brazil

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

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Pan European Telecom Services and Cable

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Analysts

Soomit Datta

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New Street: Brazilian Consolidation: Oi - Wireless sale, but where's the EBITDA gone?

New Street: Brazil Telcos: Oi (Neutral, TP: Under review) - New look, post disposals / Debt restructuring, Round II

New Street: Oi (Neutral, TP: under review) Oi Q1 22 - Pro-forma Leverage update: Still High

New Street: Oi (Neutral, TP: under review) Oi Q1 22 - Running the numbers on pro-forma Leverage: Still High

OpenAI: o3 is a game changer - a few steps away from AG. After the $1bn-to-train model, the $1m-inference model.

Airtel Africa (Buy, TP: GBp200, +85%) Second share buyback program

Takeaways from our conversation with VerticalScope (FORA-TO, Not rated)

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