Brazil’s Oi and BrT deny striking deal

1 Apr 2008

Brazilian telecoms operators Oi (Telemar) and Brasil Telecom (BrT) have denied completing a deal under which the former will acquire BrT, reports BNamericas citing the companies’ filings with securities regulator CVM. Oi confirmed it was aware of the ‘advanced stage of the negotiations’ between BrT’s main stakeholders – national bank Opportunity and Citigroup – adding that if they reach fruition it will intensify the talks for acquiring BrT. It points out that at this stage, however, no final agreement has been made, contrary to recent press rumours.

Brazil, Brasil Telecom (BrT), Oi