According to a report on the website of Veja, Portugal Telecom, SGPS S.A. is in talks to increase its stake in Oi SA to take control of the firm. According to the report, Portugal Telecom is planning to acquire the stakes owned by Carlos Jereissati and Sergio Andrade in Oi. The value of the transaction is expected to be around BRL 2 billion.

According to Veja, Banco BTG Pactual SA is acting as financial advisor in the transaction.