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Oi completes BrT acquisition for US$3.5 billion.(BRAZIL)

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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