Oi Sheds Tower, Cable Assets

Oi Sheds Tower, Cable Assets

Brazil M&A

Brazil’s Oi is set to raise BRL2.43bn ($1.09bn) from agreements to sell cellular towers and its stake in an undersea internet cable, it says. A private equity fund operated by BTG Pactual has agreed to pay BRL1.75bn for the Brasil Telecom Cabos Submarinos, an operator of 22,500-km of cables connecting the US, Bermuda, Colombia, Venezuela and Brazil. Separately, it agreed to transfer the use and commercial rights of 2,113 towers to SBA Communications for BRL687m. The telecom is raising funds for

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