EconomyMarkets

Brazil competition regulator signals ‘complex’ path for Oi sale approval By Reuters

© Reuters. FILE PHOTO: The logo of Brazilian telecoms company Oi SA is pictured inside a store in Sao Paulo, Brazil July 18, 2018. REUTERS/Paulo Whitaker

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:) 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)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button