Oi (OIBR3): Anatel agrees to pre-approval to sell mobile assets to competitors; The stock closed up 2.88%.

The National Communications Agency (Anatel) on Monday (31) approved the pre-approval for the sale of Oi mobile operations (OIBR3;OIBR4(for local competitors TIM) TIMS3), vivo (fift 3), of Telefônica Brasil, and Claro, a subsidiary of America Movil in Mexico.

“Finally, the regulatory agency has given pre-approval to share industrial exploration contract of the type RAN sharing provided by buyers and mobile phone specialists,” Oi reported in a statement to the market, after the Anatel meeting ended.

Shortly after the decision, shares rose more than 4%, paring the gains, but closing higher. OIBR3 assets rose 2.88% to R$1.07.

The decision was supposed to be issued on Friday. But it was postponed after it was postponed by a member of the organizational council He asked for more time to analyze the matter.

The approval of the sale of the assets was approved subject to certain conditions, such as a capacity offer to virtual mobile operators (MVNOs) and an Oi transmitted spectrum occupancy plan. The rapporteur also suggested excluding loyalty terms in the event that users migrate from Hi Mobile, this will not be automatic.

It was agreed to sell Oi Móvel to competitors in December 2020, at auction as part of the operator’s judicial refund process. The value of the operation amounted to 16.5 billion reais, and the funds will be used to reduce telecom debts. If the sale of Oi Móvel is completed, Vivo, TIM and Claro will focus more on the national mobile voice and data market.

In addition to Anatel, the Economic Defense Administrative Council (Cade) also needs to analyze the deal by February 15. In November, CADE’s public oversight body recommended approval of the purchase, subject to the signing of an agreement providing, among other measures, for network sharing, lease of radio-frequency spectrum, roaming contracts, and provision of voice and data packets to virtual operators.

(with Estadao content)

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