America Movil CEO ‘very interested’ in Oi swoop

22 Sep 2016

America Movil (AM) is interested in acquiring some, or all, of the telecoms operations owned by struggling Brazilian telco Oi, chief executive Daniel Hajj has revealed. Speaking during an interview with Brazilian newspaper Valor Economico, Mr Hajj said he was eyeing an acquisition of Oi, regardless of whether the company is split up as part of its ongoing bankruptcy proceedings. The executive noted: ‘We are open to looking at anything. I am very interested in participating in the consolidation in Brazil, but I don’t know how it will happen.’

Telecom Italia-owned TIM Participacoes (TIM Brasil) has long been considered the front-runner in the chase for Oi’s assets, although a recent change in management personnel has seemingly nudged a deal off the agenda, effectively clearing the path for AM, and its rival Telefonica, which operates in Brazil as Vivo. Given the scale of the companies involved, it has been suggested that Oi may see its fixed and mobile assets carved up between rival bidders.

Brazil, America Movil (AM), Claro Brasil (incl. Embratel & NET Servicos), Oi