May 14, 2019 / 2:02 PM / 2 months ago

Oi plans to invest 7 billion reais per year, focus on expanding FTTH broadband service-CFO

SAO PAULO, May 14 (Reuters) - Brazilian telecommunications firm Oi plans to invest 7 billion reais ($1.76 billion) per year until 2020, focusing mostly in the expansion of its high-speed fiber-to-the-home (FTTH) broadband service, Chief Financial Officer Carlos Brandão, said on Tuesday.

"Our capex plan is fully funded in the first year and we have up to 7 billion reais in assets to be monetized in the short-term," Brandão told analysts in a call to discuss results, adding the company is working with Bank of America Merrill Lynch and other banks in a divestment plan.

$1 = 3.9766 reais Reporting by Gabriela Mello

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