TIM Brasil, Claro and Telefonica Brasil have submitted an updated binding bid for the acquisition of Oi’s mobile assets worth BRL 16.5 billion (EUR 2.73 billion). The offer also envisages long-term agreements to use Oi's infrastructure. The bid is subject to the companies being named the 'stalking horse' in the bidding, which gives them the right to match or improve on any higher offers received by Oi.
The bid confirms their commitment to the development of Brazil’s telecommunications system as the transaction would enable further growth, operational efficiencies and service quality enhancement, the companies said. Their offer also addresses Oi's financial needs, coming in ahead of the company's aim of at least BRL 15 billion for the assets.
Oi announced a week ago that it started exclusive talks with the bidder Highline on the mobile sale. It's also seeking the status of stalking horse bidder.
