Financially stricken Brazilian telecoms group Oi has confirmed that the 14 December sale of its mobile assets attracted interest from one bidder – the consortium comprising Telefonica Brasil (Vivo), TIM Brasil and Claro Brasil. The final takeover offer was valued at BRL16.5 billion (USD3.25 billion), which will include a BRL756 million payment to Oi for ‘transition services’. An additional BRL819 million commitment relates to long-term ‘transmission capacity’, meanwhile.
The Judicial Reorganisation Court has ratified the offer presented by the winning bidders, after approval from the Government Attorney’s Office of the State of Rio de Janeiro and the Judicial Administrator. Going forward, the transaction is subject to approval from the National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) and the Administrative Council for Economic Defence (Conselho Administrativo de Defesa Economica, CADE).