China Mobile interested in Oi takeover, report says

25 Sep 2017

China Mobile is reportedly in preliminary talks with Brazil’s National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) regarding the potential acquisition of the mobile phone assets owned by debt-wracked telco Oi. According to business journal Exame, Anatel officials met with China Mobile personnel and executives from the China Development Bank on 11 September to discuss terms.

As previously reported by TeleGeography’s CommsUpdate, Oi filed the largest bankruptcy request in Brazil’s history in June 2016, after failing to reach an agreement with creditors. The filing, which covered Oi and six subsidiaries, listed BRL65.4 billion (USD19.2 billion) of debt and the company chose judicial reorganisation to preserve the value of its holdings and to continue providing services to its customers.

Brazil, China Mobile, National Telecommunications Agency (Anatel), Oi