By The Royal Gazette

Regulatory approval is being sought from Bermuda for the sale of two underwater fibre-optic units, including GlobeNet the largest subsea cable provider to the Island.  Grupo Oi SA, the owner of Brazil's fourth-largest wireless carrier, has agreed to sell its underwater fibre optic cable units to a fund led by investment banking firm Grupo BTG Pactual SA for some $772 million.

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