China Mobile Ltd has become the second Chinese company to show interest in investing in the debt-laden Brazilian telecommunications company Oi SA, Reuters reports.
The news agency, citing the Agência do Brasil wire service as its source, quotes the head of the Brazilian telecommunications regulator, Juarez Quadros, as saying so.
Reuters says China Development Bank, one of the creditors of Oi, has also expressed interest in putting money into the Brazilian company.
Another Chinese company, state-owned China Telecom Corp. Ltd, and US private equity firm TPG Capital Management have proposed to take over Oi and put 10 billion reais (US$3.1 billion) into the company, Reuters says.
