A VERDADE SOBRE A QUEDA DA OI

Watch on YouTube ↗  |  June 16, 2026 at 23:30  |  14:58  |  Market Makers
Speakers
Manuel Baigorri — Reporter, Bloomberg

Summary

Anatel chief warns Oi never had a chance; the telecom's collapse was caused by regulatory, managerial, and transparency failures, and its turnaround was a fantasy. The episode also highlights how competition from small providers reshaped Brazil's broadband market.

  • Oi's failure was multifactorial: outdated regulatory obligations, mismanagement, strategic errors.
  • Company burdened with obligations like payphones and fixed lines after they became obsolete.
  • Acquisitions (Brasil Telecom) done without proper due diligence, revealing hidden liabilities.
  • Lack of transparency: sold towers were actually posts, copper already stolen by criminals.
  • Government ended the old concession model, avoiding a forced state-run telephone service.
  • Brazilian telecom market transformed by small entrepreneurs who built fiber networks, not by regulation.
  • Anatel now uses financial guarantees and network build obligations instead of upfront cash in spectrum auctions.
Ideas
Manuel Baigorri Reporter, Bloomberg 2:04
Oi nunca teve viabilidade, evitar.
Oi nunca teve chance de dar certo; sua queda foi causada por obrigações regulatórias ultrapassadas, gestão desastrosa, aquisições sem due diligence (como a Brasil Telecom) e falta total de transparência. A empresa vendia ativos que não existiam (torres que eram postes), o cobre já havia sido roubado, e a lista de credores só crescia. Qualquer tese de reviravolta era um devaneio, e todo mundo que tentou fazer negócio com a Oi se arrependeu.
Up Next

This Market Makers video, published June 16, 2026, features Manuel Baigorri discussing OIBR3.SA. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Manuel Baigorri  · Tickers: OIBR3.SA