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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Oi S.A.    OIBR4   BROIBRACNPR8


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Digital Colony's Highline do Brasil submits top bid for Oi's mobile assets

07/22/2020 | 10:41pm EST
A man leaves the office of Brazilian telecoms company Oi SA in Rio de Janeiro

Highline do Brasil, a portfolio company of U.S. private equity firm Digital Colony, has presented the best offer for the mobile assets of Brazilian telecom Oi SA and the two parties are entering exclusive negotiations, Oi said on Wednesday.

Oi did not disclose the value of the offer, but said in a securities filing the offer exceeded the minimum established by the Brazilian telecom of 15 billion reais ($2.93 billion).

Digital Colony, backed by U.S. real estate investor Thomas Barrack and Digital Bridge Holdings, is focused on investing in digital infrastructure in Canada, Latin America and Europe.

Reuters, citing two sources, had reported earlier on Wednesday that Digital Colony had submitted a bid. The sources said Digital Colony is interested in Oi's mobile infrastructure assets, not necessarily in providing telecom services directly to consumers.

Digital Colony could seek partnerships with other telecoms players to provide them with services using its infrastructure, which could also involve further asset sales down the road, one of the sources said.

The private equity firm, which has some $20 billion in assets under management, is already talking to one such potential partner, Brazil's fifth largest carrier, Algar Telecom, about a potential deal, they said.

Algar said in a securities filing it is constantly evaluating potential acquisitions and partnerships which may add value to its business.

Highline also delivered a binding proposal to acquire Oi's cellular tower unit for 1.08 billion reais on Friday.

Besides Digital Colony, existing operators TIM Participacoes, Telefonica Brasil SA and America Movil SAB de CV's Claro submitted a joint bid for Oi's mobile assets.

Oi intends to use the asset sale proceeds to fund its growing broadband fiber unit and pay off debt as part of its effort to emerge from bankruptcy protection.

(Reporting by Carolina Mandl; Additional reporting by Gram Slattery; editing by Jonathan Oatis, David Gregorio and Lincoln Feast.)

By Carolina Mandl

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. 1.45% 14.74 End-of-day quote.-2.38%
OI S.A. 2.70% 3.04 End-of-day quote.147.15%
TELEFONICA S.A. 1.11% 3.736 Delayed Quote.-40.00%
TELEFÔNICA BRASIL S.A. -2.26% 45.34 End-of-day quote.-21.80%
TIM PARTICIPAÇÕES S.A. -0.88% 13.46 End-of-day quote.-14.10%
All news about OI S.A.
11/27OI S A : Notice to the Market - Response to the CVM/B3 Official Letter (297 Kb)
11/27OI S A : Notice to the Market - Acquisition of Material Equity Interest - VIC DT..
11/27OI S A : Material Fact - Transaction Agreement entered into with Anatel (110 Kb)
11/27OI S A : Brazil government forgives $1.3 bln in debts owed by telecom Oi
11/26OI S A : Material Fact - Result of the Competitive Procurement Procedure for the..
11/26OI S A : Material Fact - Result of the Competitive Procurement Procedure for the..
11/24Brazil's Highline acquires Blackstone-backed Phoenix Tower do Brasil
11/20OI S A : Extract of Itens (1) and (6) of The Minutes of the 267th Board of Direc..
11/13OI S A : 3Q20 Press Release (1597 Kb)
11/13OI S A : 3Q20 ITR - Quarterly Financial Information (1772 Kb)
More news
Sales 2020 18 891 M 3 546 M 3 546 M
Net income 2020 -10 912 M -2 049 M -2 049 M
Net Debt 2020 20 105 M 3 774 M 3 774 M
P/E ratio 2020 -1,62x
Yield 2020 -
Capitalization 12 346 M 2 312 M 2 318 M
EV / Sales 2020 1,72x
EV / Sales 2021 1,80x
Nbr of Employees 15 003
Free-Float 94,2%
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Mean consensus -
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Last Close Price 2,97 
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Rodrigo Modesto de Abreu Chief Executive Officer
Eleazar de Carvalho Filho Chairman
José Cláudio Moreira Gonçalves Chief Operating & Technology Officer
Camille Loyo Faria Chief Financial & Investor Relations Officer
Marcos Grodetzky Vice Chairman
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