Telefónica, TIM, Claro have teamed up to acquire the mobile operations of Brazil’s Oi SA for 16.5 billion reais (US$3.23 billion).
Oi, which is the largest fixed operator and the fourth largest mobile operator in Brazil, auctioned off its mobile assets as part of bankruptcy proceedings.
Telefónica Brasil, which currently serves 77 million customers, will pay roughly 5.57 billion reais. TIM will pay approximately 7.7 billion reais. Claro will pay 3.6 billion reais.
Oi has previously disclosed plans to accelerate its fiber broadband strategy.
