Race to acquire Oi mobile assets hots up - Mobile World Live

Race to acquire Oi mobile assets hots up

28 JUL 2020

Operators Telecom Italia, Telefonica and Claro fought back in their attempt to acquire Oi’s mobile assets, submitting a revised binding offer after their initial bid was trumped by infrastructure company Highline do Brasil.

Telecom Italia said in a statement its joint bid with the two other operators reaffirmed its interest in Oi’s mobile assets, adding it will closely monitor the situation as the race to acquire the unit hots up.

The three operators submitted their first offer to buy the assets earlier this month, but were shortly dealt a setback after Oi announced it had entered into exclusive negotiations with Highline for the sale.

Oi said Highline had submitted the best binding offer above the minimum price established, which reportedly stands at $2.93 billion, and its exclusivity agreement would run until 3 August 2020.

The trio of operators, however, are clearly not giving up on a possible deal.

In the statement, Telecom Italia added their proposed acquisition would develop the Brazilian telecoms market, considering their extensive experience and “deep understanding” of the sector.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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