Telemar Plots Local Issue

Telemar Plots Local Issue

M&A

Brazilian president Lula has signed a decree changing local telecom rules, clearing the way for Telemar’s BRL13bn acquisition of Brasil Telecom. The telecom provider also known as Oi announced it would immediately apply for final approval from telecom regulator Anatel, aiming to beat a December 21 deadline and avoid a BRL500m penalty. Telemar CEO Luiz Eduardo Falco told LatinFinance last week that if the decree was signed this week, he was hopeful the deal would be finalized by year-end. The rul

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