LatinNews Daily - 24 July 2020

* Brazil’s fourth largest telecoms operator, Oi, has announced that it has reached an exclusivity deal with Highline do Brasil, a portfolio company of US private equity firm Digital Colony, to negotiate the sale of its mobile assets. According to Oi, Highline made the most attractive binding offer, above Oi’s minimum established price of R$15bn (US$2.88bn). Oi has been undergoing a restructuring process since filing for bankruptcy protection in 2016, and had been in negotiations with Brazil’s other major telecoms companies - TIM, Vivo, and Claro - for the sale of its mobile operations. Highline is an infrastructure solutions provider for other firms in the telecoms industry, rather than a provider of mobile services to end-users, raising questions about the possible integration of Oi’s services in the eventuality of Highline purchasing its mobile assets. The deal, currently valid until 3 August, means that Oi and Highline now enter into exclusive negotiations.

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