BTG Pactual still working on potential merger, says Oi - Mobile World Live

BTG Pactual still working on potential merger, says Oi

16 DEC 2015

BTG Pactual, the under fire Brazilian investment bank, still has a mandate from Oi to negotiate a possible merger, Reuters said.

The operator’s head of investor relations also said investors are interested in participating in the consolidation of Brazil’s telecoms market, although so far only private equity firm LetterOne has made an actual move.

LetterOne, which holds significant stakes in VimpelCom and Turkcell,  struck a deal with Oi in October concerning an effort to tie-up with mobile operator TIM in the country. LetterOne previously wrote to BTG, saying it would invest $4 billion in Oi if a deal with TIM was to go ahead. A tie-up between Oi and TIM has long been mooted, but nothing has come to fruition.

However, the arrest of BTG Pactual’s founder and CEO, Andre Esteves, at the end of November cast doubts on the $4 billion capital injection given the bank’s central role in orchestrating the capital injection.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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