CADE approves Oi’s acquisition of BrT - with restrictions

21 Oct 2010

Brazilian newspaper Agencia Estado reports that the country’s Administrative Council for Economic Defense (CADE) has approved Telemar Norte Leste (Oi’s) purchase of Brasil Telecom (BrT), albeit with conditions. CADE’s decision comes in the wake of the national telecommunications agency Anatel’s announcement in December 2008 to grant prior approval for the purchase – again with certain restrictions. Among the obligations imposed on the enlarged operator, CADE is demanding it keep records on investment achievement in certain segments, periodically report on customers’ demands and monitor its performance in dealing with end user concerns. Such information will be passed to Anatel, Vinicius Carvalho, a spokesman for CADE said.

Brazil, Brasil Telecom (BrT), Oi