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. The plan also comes as the Brazilian government is seeking a solution for the indebted telecom operator. government's heightened scrutiny of the Chinese company. The potential deal is reportedly part of Huawei's attempts to enter the Brazilian market and boost the reach of its 5G technology amid the U.S.
to launch a bid for embattled Brazilian mobile carrier Oi SA, Bloomberg News reported, citing Brazilian newspaper O Globo.
