Brazilian telecoms regulator Anatel has approved Portugal Telecom’s US$5bn proposed investment into leading fixed-line operator Oi.
However, the agreement comes with some stipulations, with Anatel insisting the purchase can only go forward after R$74m…
Brazilian telecoms regulator Anatel has approved Portugal Telecom’s US$5bn proposed investment into leading fixed-line operator Oi.
However, the agreement comes with some stipulations, with Anatel insisting the purchase can only go forward after R$74m (US$43.7m) is paid in overdue debt owed to Fistel, the state telecommunications fund.
After PT and Telefonica’s protracted saga to control the country’s number one cellco, Vivo, the Portuguese company decided to remain in the Brazilian market and approached Oi with a R$8.44bn offer for an undisclosed stake in Oi, which is operated by Telemar Norte Leste.
