Oi anticipates a green light from Lula on telecoms law change this week

19 Nov 2008

Brazilian telecoms operator Oi (Telemar) is confident the country’s president Luiz Inacio Lula da Silva, or Lula as he is also known, will ratify a change to the country’s telecoms law this week that will allow for its takeover of fellow telco Brasil Telecom (BrT), BNamericas reports citing Oi president Luiz Eduardo Falco as saying. The industry regulator Anatel approved changes to telecoms rules in October allowing telcos to buy rival operators holding concessions in different areas of the country – paving the way for Oi’s proposed BRL13 billion (USD5.66 billion) deal. If Oi fails to finalise its takeover of BrT by the 21 December deadline it will face a BRL490 million fine.