The Brazilian government’s Administrative Council for Economic Defense (CADE) has given the green light for Telemar to complete its purchase of Brasil Telecom. Telemar Norte Leste, the holding company of Brazilian telco Oi.
Oi first announced plans to…
The Brazilian government’s Administrative Council for Economic Defense (CADE) has given the green light for Telemar to complete its purchase of Brasil Telecom. Telemar Norte Leste, the holding company of Brazilian telco Oi.
Oi first announced plans to take over BrT in late 2008, after getting the go-ahead from Brazilian president Luiz Inacio Lula da Silva to create a national champion able to compete with players owned by America Móvil, Telefónica, Telecom Italia and Portugal Telecom. PT now owns more than 22% of Telemar, with Telemar holding 10% of PT. Oi completed its purchase of BrT on January 9, 2009, and now this ownership has passed onto its parent Telemar.
However, CADE did attach some strings to the acquisition demanding it keep records on investment achievement in certain segments, periodically report on customers’ demands and monitor its performance in dealing with end user concerns. This information will be collected and audited by Anatel.
