The Brazilian regulator Anatel has given a green signal to the restriction it had made on the BrT’s takeover by Oi. The deal is worth $2.48 billion and was annouced in April. The total price tag for the takeover is expected to rise to $5.07 billion.
The takeover will bring Oi the strength to compete against the two giants Spain’s Telefonica and Mexico’s America Movil and will hold 70% of the fixed-line market.
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Anatel gives green signal to the Oi-BrT deal (Brazil)
- December 19th, 2008
- 6:04 am
Oi to raise $1.92 billion for Brasil Telecom takeover (Brazil)
- August 4th, 2008
- 5:00 am
Oi Participacoes, Brazil, has announced it’s plans to raise $1.92 billion by the end of October in order to complete it’s financial plan to take over Brasil Telecom.
According to Chief Financial Officer Jose Luis Salazar, Oi has already raised 65% of 12 reais it needs for the purchase.
For the purchase of Brasil Telecom, Oi total debt jumped about 55% from a year earlier.
