Anatel gives green light to Oi’s BrT takeover

20 Oct 2008

The Brazilian telecoms watchdog Anatel has given the thumbs up to new regulations that will allow Oi Participacoes (Telemar) to take control of fellow Brazilian operator Brasil Telecom (BrT). Brazil’s ministry for communications and the president, Luiz Inacio Lula da Silva, are now expected to give final approval to the deal in the coming weeks. Once it is given the green light, Oi is looking to create a new super operator capable of taking on the likes of Telefonica and Mexico’s America Movil in its home market. The enlarged operation would control roughly 70% of the Brazilian fixed line market, 18.5% of the mobile sector and around 40% of the broadband internet user market. Oi concluded an agreement to acquire control of BrT in April this year and Reuters reports it has already secured about 65% of the funding it needs for the purchase.

Brazil, Brasil Telecom (BrT), Oi