Announced
Financials
Sources
Tags
Pending
Mobile
Acquisition
Friendly
telecommunications
Brazil
Majority
Private
Domestic
Auction
Synopsis
Telecoms Tim Participacoes, Telefonica Brasil and Claro, three Brazilian telecommunications companies, won the auction to acquire the mobile business of Oi, a fixed telephone operator and the fourth mobile telephone operator in Brazil, for $3.2bn. The closing of the transaction is subject to customary conditions for this type of transactions, including regulatory approval. TIM Brasil will pay the biggest share for the assets, at $1.4bn and an additional $92m for the transition. Telefonica Brasil will fork out $1bn and $35m, while Claro said it will pay the remaining $800m.
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