September 9, 2020 |
Three telecommunication companies in Brazil – Claro, TIM and Vivo – can now match any competing offer to buy Oi's mobile phone business after their offer was named a "stalking horse" bid by the bankrupt carrier, according to securities filings.
Claro, TIM and Vivo presented a revised offer in late July to buy Oi Móvel for BRL16.5 billion ($3.08 million) after Highline do Brasil bettered a previous bid in July.
Highline, a mobile phone tower company backed by the US private equity firm Digital Co
Claro, TIM and Vivo can match the best offer for the mobile phone business with a "stalking horse" bid