Brazil's big three raise stakes for Oi mobile

Brazil's big three raise stakes for Oi mobile

M&A Telecoms Brazil Europe Mexico US

Three telecommunications companies in Brazil – Claro, TIM and Vivo – have presented a revised offer to buy Oi's mobile phone business for BRL16.5 billion ($3.2 billion), according to securities filings. The latest bid "provides more favorable financial conditions than the previous proposals," Oi said in a filing on Tuesday, referring to the first joint offer from the three carriers and a counteroffer from Highline do Brasil, a mobile phone tower company backed by the US private equity firm Digit

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