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Oi telecommunications
The operators Telefônica Brasil (VIVT3), Claro and TIM (TIMS3) revealed, in documents sent to CVM on the night of this Monday 14, some details about the purchase of Oi’s mobile business (OIBR3; OIBR4), for R $ 16.5 thousand millions. The asset was bought at three in the afternoon yesterday, in an auction organized by TJ-RJ and without competition.
TIM will be responsible for the largest disbursement, 44% of the Base Price and Transition Services values, totaling approximately R $ 7.3 billion. “Regarding the financing of this acquisition, TIM, considering its low indebtedness and current market conditions, believes that it is possible to finance it through the local debt market and its cash generation,” the company said. The group will reach approximately 14.5 million clients (40% of UPI Ativos Móveis’ total base).
Telefônica will be responsible for 33% of the Base Price and Transition Services, equivalent to approximately R $ 5.5 billion, and will have approximately 10.5 million customers (corresponding to approximately 29% of the total base of UPI Ativos Móveis) .
Claro will be responsible for the payment of R $ 3.7 billion (approximately 22% of the purchase price). The group will also have 32% of UPI Ativos Móveis’ total customer base, according to Anatel’s April / 2020 access base.
As a relevant fact, Claro explained that, according to the provisions of the contract, the assets that make up UPI Ativos Móveis will be segregated into three special purpose companies (SPE), for which each of the Buyers must acquire, at the closing of the Transaction , the totality of the shares of a single SPE that owns the set of specific assets it may have, according to the segregation plan agreed between the Buyers.
“The SPE that will be acquired by Claro will have as assets a part of the client base and certain infrastructure assets of the Oi Group,” the company said.
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Oi sells mobile assets for R $ 16.5 billion to Vivo / TIM / Claro and takes a new step to get out of the judicial recovery; see the trajectory
Under the terms of the Contract, the buyers also agreed to enter into long-term contracts with the Oi Group on the closing date of the transaction for the provision of data transmission capacity to the buyers, in the take-or-pay mode. , whose NPV (net present value) corresponds to approximately R $ 819 million, considering all joint buyers.
They all pointed out that the conclusion of the deal will depend on the analysis of Cade and Anatel.
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