SAO PAULO Dec 13 Brazilian phone carrier Oi SA
has asked the court overseeing its bankruptcy protection
proceedings for permission to sell a stake in Timor Telecom SA,
which serves the Asian nation of East Timor.
In a Tuesday securities filing, Oi said it is in
talks to sell the stake to Investel Communications Ltd. Investel
has offered to pay around $36 million for Oi's direct and
indirect stakes in Timor Telecom and assume $26 million in Timor
Telecom debt to Oi-related entities, the filing said.
(Reporting by Bruno Federowski Editing by W Simon)