Timor-Leste approves potential purchase of Oi’s stake in TT

11 Mar 2016

The Timor-Leste government has approved the state’s potential purchase of the majority stake in national fixed and mobile operator Timor Telecom (TT) held by Brazilian telecoms firm Oi, writes Macauhub, citing a report by Portuguese news agency Lusa. According to a government source, Dili will appoint a committee to negotiate the value of the transaction with the relevant parties.

The deal involves a 54.01% shareholding in TT, controlled by Telecomunicacoes Publicas de Timor (TPT), in which Oi owns 76%, in addition to a direct 3.05% stake held by PT Participacoes SGPS. The Timorese government currently holds a 20.59% stake in TT, with the remaining shareholders being VDT Operator Holdings (17.86%) and Timorese businessman Julio Alfaro (4.49%).

Timor-Leste, Oi, Timor Telecom