Oi closes sale of mobile unit; adjusted closing price is BRL15.9bn

21 Apr 2022

Brazilian telecoms operator Oi has confirmed that the sale of its Oi Movel unit – to a consortium comprising TIM Brasil, Claro Brasil and Telefonica Brasil (Vivo) – closed on 20 April, as anticipated. The ‘adjusted closing price’ of the transaction was BRL15.922 billion (USD3.425 billion), broken down as a base price of BRL15.744 billion, plus positive adjustments of BRL178.2 million.

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. The deal was approved by the National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) and the Administrative Council for Economic Defence (Conselho Administrativo de Defesa Economica, CADE) in 1Q22.

Brazil, Claro Brasil (incl. Embratel & NET Servicos), Oi, Telefonica Brasil (Vivo), TIM Brasil