Brazil · Telecom Restructuring
Key Facts
—Auction: The Brazil Oi corporate auction is scheduled for 3 p.m. Brasília time on June 17 in the 7th Business Court of Rio de Janeiro, at a minimum bid of R$1.417 billion ($253 million), to be paid in cash in a single tranche.
—Asset: Oi Soluções, the corporate-services unit of the bankrupt Brazilian telecom, provides connectivity, digital services and information-technology contracts to private companies and public-sector clients and is the last large saleable asset of the group.
—Bidders: Italian-controlled Brazilian carrier TIM has publicly declared the minimum price is “not an impediment” to acquisition, and V.Tal, the neutral fiber-network company controlled by BTG Pactual, joined the bidding list on Thursday with what local press described as strategic interest.
