Huawei Technologies Co. Ltd. denied that it plans to acquire Brazilian operator Oi SA or any other telecom company in the Latin American country, Reuters reported, citing a statement from the Chinese company.
The statement comes after Brazilian newspaper O Globo reported that Huawei may potentially team up with China Mobile Ltd. to bid for Oi. Speculation of the bid came after Brazil's senate approved a bill to update the country's telecommunications framework, a move that will allow Oi to sell up to US$2 billion in noncore assets.
Oi is also reportedly in talks with Spain's Telefónica SA, Italy's Telecom Italia SpA and AT&T Inc. for the sale of its mobile network to avoid insolvency, sources said.
