Anatel approves sale of Oi Movel to rivals

1 Feb 2022

The board of directors at Brazil’s National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) has announced that it has unanimously approved the sale of Oi Movel to a consortium comprising the telco’s domestic rivals, Telefonica Brasil (Vivo), TIM Brasil and Claro Brasil. The vote took place on Monday 31 January.

In order to mitigate risks in the competitive scenario, Anatel chose to establish the mandatory submission of Wholesale Product Reference Offers for national roaming. In addition, the acquisitive parties must prepare (and make public) voluntary commitments for the effective use of the spectrum that they will acquire from Oi. The watchdog says that this measure is designed to facilitate the entry of new players into the mobile telephony market.

According to TeleGeography’s GlobalComms Database, Oi’s mobile unit was sold at auction on 14 December 2020, generating a final bid of BRL16.5 billion (USD3.25 billion). The Judicial Reorganisation Court duly ratified the offer and Oi went on to execute the ‘Agreement for the Purchase and Sale of Shares and Other Covenants’ on 28 January 2021.