Brazil’s antitrust body has given the green light to the proposed acquisition of mobile operator Oi by its three rivals, but has imposed a series of conditions on the deal in a bid to preserve competition.
Brazilian telco Oi has selected its trio of rivals as the acquirers of its mobile business unit, signalling competition in the market is about to shrink.
Telecom Italia, American Movil and Telefonica have renewed a joint effort to purchase Oi’s mobile business unit after being outbid by US private equity firm Colony Capital.
It’s three domestic rivals might have teamed up to buy out the competition, but it appears US private equity firm Colony Capital sees potential in the Brazilian telecoms market.
Brazilian telecoms operator Oi has received a joint bid from its three rivals to acquire its mobile business unit, as the firm searches for cash to fight back against bankruptcy.
Brazilian converged telco Oi has said it will be moving forward with the sale of its mobile business unit, listening to offers which exceed 15 billion Brazilian Real ($2.8 billion).
With the troubles of Brazilian telco Oi plain for everyone to see, Telecom Italia and Telefonica are sniffing out an opportunity for growth in market with significant potential.
Latin America’s biggest telecoms company – Brazil’s Oi – has filed for what is the country’s largest ever bankruptcy.
Equipment maker Nokia Networks and mobile operator Oi Brasil are to create Latin America’s first ever lab for LTE-based Internet of Things experiments.
Acquisitive French telco Altice wasted little time after sealing the SFR deal before announcing it has entered into exclusive negotiations to acquire the Portuguese assets of Portugal Telecom from Brazilian telco Oi for €7.4 billion.
Telecom Italia has announced the sale of its Brazilian towers to American Tower Corp for approximately €900 million, the price tag it set out to achieve in the first place. The telco also confirmed it is weighing up its options overall in the Brazilian market, and that it is considering a tie-up of its subsidiary Tim Participações with local competitor Oi.
France-based cable group Altice has made an official bid to acquire the Portuguese assets of Portugal Telecom (PT) from Brazilian Oi for €7.03 billion. The assets in question include the Portuguese incumbent’s business excluding African operations, its Rioforte debt securities, Oi treasury shares and PT’s financing vehicles.
Telecom Italia has announced it is to sell 17% stake of its subsidiary, Telecom Argentina to New York-based investor firm Fintech. The Italian incumbent said it plans to sell Telecom Argentina’s holding company Sofora’s entire shareholding to Fintech once it has received regulatory approval from the Argentinian regulator SECOM.
Telecom Italia is said to be weighing up the possibility of buying Brazilian telco Oi in a bid to strengthen its local arm TIM Brazil) position in the South American market, where it looks likely to get squeezed if Telefónica’s purchase of GVT goes through as planned.
Telefonica has announced it will completely exit from Telecom Italia once its deal to acquire GVT from Vivendi, as agreed last week, is finalised. This means an end to a period of tense relations between the Spanish and Italian operators as they have battled over the Brazilian arm of Vivendi, and the chance to create a stronger local unit to compete in the Brazilian market.
In a bid to rescue their proposed merger Brazilian operator Oi will get a bigger piece of the combined operation – CorpCo – in return for helping Portugal Telecom (PT) out with €847 million of defaulted debt from Rioforte, which had threatened to scupper the move.
Infrastructure vendor Nokia Solutions and Networks (NSN) announced that its 3Q13 sales have dropped 24 per cent year on year to reach €2.59m.
Portuguese business assurance specialist WeDo Technologies has announced a partnership with incumbent operator Portugal Telecom (PT) that will see the firm’s rating validation and roaming management solutions offered on a SaaS model as part of PT’s new enterprise cloud offering, SmartCloudPT.
Brazilian operator Oi and its largest shareholder Portugal Telecom have agreed to merge into a combined entity called CorpCo. The deal is expected to enable CorpCo to generate operational and financial synergies, with a net present value (NPV) of approximately R$5.5bn ($2.5bn) and benefit from increased scale.
Brazilian telco Oi has offloaded non-core assets to bring in a total of around Real2.4bn (€820m).
The company said Monday that it has agreed to sell its majority stake in undersea cable operator Brasil Telecom Cabos Submarinos and its connected subsidiaries in Venezuela, Colombia, Bermuda and the US, which operate under the GlobeNet brand to Brazilian investment fund Banco BTG Pactual for Real1.74bn.
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