TIM Participacoes, Telefonica Brasil and America Movil's Claro won the right to match any other higher bid for the mobile assets of Oi SA, the companies said in a securities filing on Monday. The telecoms trio has been in exclusive talks with Oi since Aug. 7, after presenting a joint 16.5 billion reais ($3.11 billion) bid for the company's cellular operations, including a long-term contract for the use of its fiber network valued at 819 million reais. Oi plans to auction that unit by year-end.
Brazilian telecommunications company Oi SA is preparing to raise more than 2 billion reais ($363 million) by the start of 2021 to expand its fiber optic network, newspaper O Estado de S.Paulo said on Tuesday. Oi filed for the largest-ever bankruptcy protection in 2016 and has been undergoing restructuring with an aim to exit the bankruptcy process in 2022. Estado did not give further details on how Oi would raise the money.
Brazilian digital lender C6 Bank's key stakeholders have injected 525 million reais ($96.02 million) in fresh capital, providing fuel for loan growth after it started a partnership with telecoms firm TIM Participacoes SA last month. After Brazil's central bank approved the additional funds from CEO Marcelo Kalim and other investors on Wednesday, C6 will operate with 1.24 billion reais in capital. C6 plans to offer more loans to consumers and small companies, besides investing in its online platform and in customer acquisition, Chief Financial Officer Karina Rodrigues said in a statement.