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Number of shares less than the standard lot.

OI Fixo

Oi’s fixed-line telephone service.

Oi Móvel

Oi’s mobile telephone service.


Cable TV services offered by Oi using DTH technology.

OI Velox

Broadband internet access offered by Oi.


Acronym in Portuguese for nominative common stock. Type of stock that gives its holder essential rights of a stockholder, specifically a share in the company‘s net income and voting rights at the company‘s meetings. Each common share corresponds to one vote in the General Meeting. According to Brazilian corporate law, it gives minority shareholders of common stock the right to receive at least 80% of the amount paid by the controlling group in the case of its control being sold (tag along).

Open Capital

Characteristic of a corporation, or public company, in which the capital is divided in the form of shares among different stockholders, beyond those representing the control group. Only open capital companies registered with CVM may trade its shares on the stock exchange.

Open Market

In the broadest sense, it is the market without any particular physical location and with free access to trading. In Brazil, however, this designation applies to set of transactions carried out with fixed income securities issued by public or private companies.

Open Position

Balance of positions held by investors in future and option markets.

Opening Price

The first price of a given security in a trading session.

Operation Support System

A system that supports operations.


Legal entity that holds the concession, permission or authorization for a telecommunications service and authorization for radiofrequency use.

Option Exercise Price

Price per share at which a holder shall be entitled to buy or sell all shares, object of the option.

Options Market

A market in which rights to buy (call) or sell (put) stock, stock indexes, currencies, future contracts, or securities are traded at pre-established exercise prices. On the Options Market, buyers have the right to buy or sell a certain amount of assets at a prefixed price up to a certain date, while sellers are left with the obligation to sell them or buy them as agreed. The buyer who buys a call option hopes that the future price rises. When buying a put option, he expects the future price to fall. The expectation of the seller, however, is the opposite. If he sells a call option it is because he expects the future price to fall. If he thinks that the future price will rise, he sells the put option. The difference of the amount paid and the amount received is called a premium.

OTC Market

The over-the-counter market is where trades take place outside of stock exchanges.

Outstanding Stock

The shares of a corporation‘s stock available for trading on the free capital market, which means all shares issued by the company except for the following: those owned by the controlling stockholder, his/her spouse, partner, and dependents included on the annual income tax statement; in treasury; ones held by the company‘s subsidiaries and affiliates as well as other companies that in fact are part of the same group or by right; those owned by the subsidiaries and affiliates of the controlling stockholder as well as other companies that make up the same group de facto or by right.


Traffic that exceeds the capacity of a given group of telephone lines or agents, telephone system or call center. Overflows can be diverted to other lines or agents and, in an emergency, to other telephone systems.


Operations carried out in the open market for a minimum period of one day, and are restricted to financial institutions.