Anatel approves V.tal sale

6 May 2022

Brazil’s National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) approved the sale of Oi’s V.tal unit (formerly known as InfraCo) on 5 May. According to the watchdog, the transaction will take place in three stages: firstly, control of Globenet will pass to investment vehicles managed by the BTG Group; secondly, control of V.tal will pass to Globenet; and finally, Globenet will be incorporated by V.tal.

According to TeleGeography’s GlobalComms Database, on 25 January 2021 Oi signed an exclusivity agreement relating to the sale of its fibre-optic InfraCo unit. The contract was 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.

The staggered BRL11.4 billion (USD2.2 billion) transaction was approved by the Administrative Council for Economic Defence (Conselho Administrativo de Defesa Economica, CADE) in November 2021, and InfraCo was duly renamed V.tal. Post-closing, V.tal will position itself as a neutral network provider, and aims to pass 32 million homes with fibre by 2025.

Brazil, National Telecommunications Agency (Anatel), Oi, V.tal