Brasil Telecom belongs to Oi
Gazeta Mercantil - 03/28/2008
The deal for the purchase of Brasil Telecom by Oi was closed today. The stockholders of the two telephone operators have finally come to a closing agreement that allowed the deal started so many months ago and postponed so many times. Brazil already has a nation-wide telecommunications operator that will be able to face the Latin giants Telefónica and Telmex. Brasil Telecom operates in the Mid-west and South and Oi keeps its operation in the North, Northeast and Southeast. It is about to enter in São Paulo, the only State that is, to this date, out of its geography The most commented purchase of the recent times in Brazil was closed yesterday by nearly R$ 5 billion. In addition to Citigroup, Opportunity and the pension funds on BrT's side, also participated Oi's stockholders: Andrade Gutierrez, BNDES, and La Fonte. The intervention of the Federal Government, represented by the Finance Minister Guido Mantega, was crucial for the closing of the deal, stated the sources from Gazeta Mercantil. The last unsolved matter, which is now settled, was the resistance of the stockholders in introducing some flexibility to the demands of the agreement between the telcos. Oi will be the telecommunications operator of national capital with convergence of technologies and licenses, offering fixed landline and mobile telephony, broad band internet service and pay TV.