Oi gets offer for capital injection with TIM deal

News General Brazil 26 OKT 2015
Oi gets offer for capital injection with TIM deal

The LetterOne (L1) fund, owned by Russian billionaire Mikhail Fridman, has made an offer to provide USD 4 billion to Brazilian operator Oi to help the company participate in market consolidation. The transaction is conditional on Oi agreeing a merger with TIM Brasil, the operator controlled by Telecom Italia. 

Oi confirmed the offer received by its shareholder BTG Pactual, which is advising Oi on restructuring and financing with an eye on pursuing consolidation. Oi said it will carefully study the offer with its advisers.

In response to Oi's announcement, TIM Brasil said in a statement that it was not involved in negotiations with any of the above parties. 

Categories:

General

Companies:

Telecom Italia,  Oi,  Portugal Telecom,  TIM Brasil

Countries:

Brazil

Tags:

Financial funding, M&A buyouts & divestments

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