Anatel approves sale of 14.47% BNDESPar stake in Oi

25 Oct 2010

Brazil’s communications regulator Anatel has approved the sale of a 14.47% stake held by BNDESPar, the equity arm of Banco Nacional de Economic and Social Development, in Telemar Norte Leste (Oi). Brazilian news service Veja reported that the state-owned bank will retain a 16% stake in the telecoms operator. The transaction involves the bank selling shares to pension funds Petros (representing Petrobras officials) and Funcef (for employees of Caixa Economica Federal), equivalent to a total of 14.47% of Oi’s equity, resulting in the two pension funds each holding around a 10% stake, according to Anatel.

Brazil, Oi