Oi inks exclusivity agreement with Globenet, BTG over InfraCo sale

5 Feb 2021

Cash-strapped Brazilian telecoms group Oi has informed its shareholders that it has signed an exclusivity agreement relating to the sale of its fibre-optic InfraCo unit. The contract – which will initially remain in place until 6 March (but can be automatically extended for 30 days) – has been signed with Globenet Cabos Submarinos, BTG Pactual Economia Real Fundo de Investimento em Participacoes Multiestrategia and other investment funds managed or controlled by the BTG Group.

Previously, on 14 December 2020 a consortium comprising Telefonica Brasil (Vivo), TIM Brasil and Claro Brasil agreed to pay BRL16.5 billion (USD3.25 billion) for Oi’s mobile assets. In November, meanwhile, Oi agreed to sell its tower unit to Highline do Brasil II Infraestrutura de Telecomunicacoes (Highline), in a deal worth BRL1.067 billion.

Brazil, GlobeNet Cabos Submarinos, Oi