Brazilian President Jair Bolsonaro signed a new telecoms law modernising the country’s regulatory regime on Friday 4 October, Reuters reports, in a move that is expected to pave the way for new investment opportunities and help to salvage bankrupt operator Oi. The directive, Law No. 13.879/2019 – which took five years to clear Congress – will lift restrictions on sales of formerly state-owned assets. It will also allow for a ‘secondary spectrum market’ for the trading of cellular frequencies. Further, fixed line concession holders will be allowed to migrate their licences to a private regime in which they can more freely allocate investments to expand broadband services.