CPP Investments buys stake in Oi's V.tal

CPP Investments buys stake in Oi's V.tal

Corporate & Sovereign Strategy Equity M&A Brazil Canada Capital Markets Interviews Technology Mobile

Canadian pension plan CPP Investments agreed to buy 9.5% of V.tal, the fiber optics unit of Brazilian telecommunications company Oi, for BRL2.5 billion ($465 million), according to a securities filing. CPP Investments will pay BRL1.42 per share as part of a capital increase in V.tal, or 13% more than a previous share sale in June this year, Oi said in a filing on Friday. "We invested in V.tal because we see significant potential for long-term returns in the build-out of Brazil's digital infrastr

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