PT receives formal green light for Oi purchase

17 Dec 2012

Brazil’s anti-monopoly commission, the Economic Defense Administrative Council, has formally given the green light to Portugal Telecom’s (PT’s) acquisition of a 22% stake in local operator Oi SA, NexTVLatam reports. In announcing its decision, the agency said its considered that no restrictions should be placed on the deal as it could find no ‘competitiveness-related’ issue issues attached to it. The transaction was originally conducted in July 2010 but was only passed by the National Telecommunications Agency in April this year. It is understood that the Brazilian Treasury also supports the move.