09/25/2024 – 19:31
Oi’s stake in V.tal will increase from 17% to 27.5% after the confirmation of the sale of its broadband operation. V.tal presented a proposal to acquire Oi Fibra for R$5.68 billion during the auction held on the afternoon of Wednesday, the 25th.
The offer did not involve cash. The proposal was to pay R$4.99 billion via delivery of V.tal shares; R$375 million in credits that V.tal has to receive from Oi for the transfer of networks; and R$308 million via the grant of debentures.
V.tal is a telecommunications infrastructure company owned by BTG Pactual funds. It was created with the transfer of fiber optic networks that belonged to Oi years ago. Today, the operator has a 17% share of the business.
The sale of Oi Fibra was part of the operator’s judicial recovery plan. Now, creditors will have 10 days to evaluate the proposal received. The transaction will still need to be approved by regulatory agencies such as Anatel and Cade. The closing date for the transaction is December 31, 2024.
“With the sale of Oi Fibra, we have completed another stage of our judicial recovery plan and are continuing the process of operational transformation of the company,” said Oi CEO Mateus Bandeira in a statement. Without the broadband business, Oi will continue its activities in the IT segment for companies.
Oi Fibra currently has a portfolio of 4.3 million fixed internet customers in 296 cities. In the second quarter of this year, the operation recorded revenue of R$1.094 billion. The auction was held by the 7th Business Court of the Court of Justice of Rio.
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