Brazil competition regulator signals 'complex' path for Oi sale approval
Reuters
Published Jul 23, 2021 06:57PM ET
SAO PAULO (Reuters) - The superintendence of Brazil's competition regulator Cade said on Friday it viewed an asset sale by Brazilian telecom Oi SA (OTC:OIBRQ) as "complex," suggesting that TIM, Telefônica Brasil and América Móvil's Claro may struggle to wrap up a quick sale.
The three companies won an auction to buy Oi's mobile network operations for 16.5 billion reais ($3.17 billion) in December, pending regulatory approval, after Oi filed for bankruptcy protection in 2016.
The decision by Cade's superintendence informs whatever final move the full board of the regulator may give.
($1 = 5.2006 reais)
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Written By: Reuters
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