Oi, BrT confirm merger talks

31 Jan 2008

Brazilian telecoms companies Oi (formerly Telemar) and Brasil Telecom (BrT) have confirmed they are holding talks concerning a possible merger, reports BNamericas citing the country’s communications minister Helio Costa as saying. The minister added that the necessary change to the nation’s telecoms legislation, needed for the merger to take place, could be ratified within a month. The final decision will be dependent on President Luiz Inacio Lula da Silva, he said. It is understood the regulator Anatel must also approve a regulatory change. ‘We are officially receiving the information that those companies want to rearrange their stock composition. This way, the ministry will ask Anatel to inform which procedure we need to follow for this issue to proceed,’ said Costa.

Brazil, Brasil Telecom (BrT), Oi