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Oi completes BrT acquisition for US$3.5 billion.(BRAZIL)
- Article from:
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Latin America Telecom
- Article date:
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April 1, 2008
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Copyright informationCOPYRIGHT 2008 Information Gatekeepers, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Brazilian fixed line telecoms company Oi formerly Telemar) has completed its BRL5.86 billion (US$3.51 billion) purchase of rival operator Brasil Telecom (BrT), reports BNamericas citing a company statement. To secure the deal, Oi agreed to pay BRL4.98 billion for the acquisition of Invitel, owner of Solpart Participacoes, which is itself the controller of BrT Participacoes.
The remaining BRL881 million will be paid for BrT Participacoes' shares held by other BrT stockholders. Given that the Brazilian authorities have yet to amend the country's telecoms laws to make the acquisition legal, Oi has reportedly agreed for Credit Suisse to acquire ...
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