Anatel approves TI, BrT deal

19 Oct 2006

Brazilian telecoms regulator Anatel has approved a Telecom Italia (TI) proposal to relinquish its rights to vote and veto in mobile operator Brasil Telecom Participacoes (BrT) as a means of undoing overlapping interests in the local wireless market. TI has also proposed to place its stake in BrT in blind trust, writes Dow Jones Newswires, after the regulator informed it to resolve an ownership overlap issue between TIM Participacoes, its Brazilian mobile unit, and BrT, which also offers mobile services, by 28 October. The Italian telco has a 38% stake in Solpart Participacoes, which controls Brasil Telecom. TI plans to transfer its stake in Solpart to a company called Brasilco, which will be administered by Credit Suisse Securities. Anatel’s approval is the final hurdle for the operation to go ahead.

Brazil, Brasil Telecom (BrT), TIM Brasil