Brazil’s Oi says only bid for fiber unit came behind the minimum required

SAO PAULO: Brazilian telecom operator Oi said on Wednesday that the sole bid for its bankrupt ClientCo unit came from Ligga Telecomunicacoes but failed to reach the minimum amount required by creditors.

Oi has opened a competitive process to sell the unit, which provides broadband fiber services to retail and business customers, as part of its current bankruptcy proceedings