Brazilian operator Oi took a step closer to selling its mobile assets by entering exclusive talks with Telefonica, Telecom Italia and Claro for their revised joint acquisition offer, less than a month after negotiating exclusively with infrastructure company Highline [1].
In a statement, Oi claimed the exclusivity agreement served as a guarantee for security and speed to negotiations.
Oi said the exclusivity pact was initially effective until 11 August and will be automatically continued unless any of the parties indicated differently.
Brazil’s top three operators submitted a revised binding offer [2] to acquire Oi’s mobile unit at the end of July, days before their initial bid [3] was trumped by Highline do Brasil.
Oi filed for bankruptcy protection [4] in June 2016, after struggling to deal with its debt burden.
[1] https://www.mobileworldlive.com/featured-content/top-three/oi-moves-closer-to-mobile-asset-sale
[2] https://www.mobileworldlive.com/featured-content/top-three/race-to-acquire-oi-mobile-assets-hots-up
[3] https://www.mobileworldlive.com/featured-content/home-banner/tim-telefonica-claro-make-oi-move
[4] https://www.mobileworldlive.com/featured-content/home-banner/oi-files-for-bankruptcy-protection-after-negotiations-fail
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