PRIVATE EQUITY DEAL: BTG Infrastructure Fund/GlobeNet

Jan 17, 2014

Brazilian telecom Oi freed capital and cut debt by selling a submarine cable system, but still kept access to the network

When Brazilian telecom Oi sought a way to tidy up its balance sheet in early 2013, it looked to monetize its non-core assets. It found just that solution with the sale of its undersea cable operation, Brasil Telecom Cabos Submarinos, known as GlobeNet, which holds 22,500 kilometers of cables connecting Bermuda, Brazil, Colombia, the...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management