Brazilian incumbent Oi has completed the sale of the long-term rights to 2,113 of its towers to SBA Communications for R$687m (US$304m).
Oi said the disposal allowed it to extend its debt maturities, reduce its financing costs and strengthen its…
Brazilian incumbent Oi has completed the sale of the long-term rights to 2,113 of its towers to SBA Communications for R$687m (US$304m).
Oi said the disposal allowed it to extend its debt maturities, reduce its financing costs and strengthen its liquidity.
The US towerco’s Brazilian subsidiary plans to increase the number of tenants on each tower, which currently stands at 1.15 operators per antenna.
The transaction was announced in July alongside the sale of Oi’s subsea cable business, Globenet, to BTG Pactual for R$1.7bn (US$773m).
Since it announced these deals, Oi has subsequently agreed to merge with Portugal Telecom, which could create up to US$2.5bn in synergies.
In September Oi sold another portfolio of 2,113 sites to BR Towers for R$502m (US$211m).
