TIM, Vivo, Claro seek price cut on Brazil Oi deal - Mobile World Live

TIM, Vivo, Claro seek price cut on Brazil Oi deal

20 SEP 2022

TIM Brasil, Vivo and Claro reportedly sought to amend the purchase price for Oi’s mobie assets to account for differences in various financial metrics uncovered after the trio completed the deal in April.

Reuters reported the companies issued securities documents detailing their aim to lower the price by BRL3.2 billion ($618.4 million) to account for differences in working capital, capex and net additions which came to light following the close of the transaction.

The news agency added Oi hit back in its own filing, stating it would resist the call for an amendment and explaining the discrepancies were due to “technical and procedural errors”.

TIM, Vivo and Claro first agreed a deal for Oi’s mobile assets in late 2020, originally targeting a close in 2021.



Mike Robuck

Mike Robuck is the U.S. Editor at Mobile World Live. He joined the Mobile World Live staff in February of 2022. Prior to joining GSMA, he was editor of FierceTelecom and of Light Reading’s Telco Transformation microsite. He has a...

Read more