(Finance) – From the operation, with which TIM Brasil will acquire the largest share of the assets of the Oi Group, “Significant benefits are expected for the Tlc sector in Brazilwhich will make it possible to maintain a high level of competition and ensure the necessary investments for the digital development of the country “.
This is what the group explains TIMin a note, in the aftermath of what was communicated yesterday by the Brazilian subsidiary TIM, namely that the offer presented for the purchase of the mobile activities of the Oi Group, together with Telefônica Brasil (VIVO) and Claro, was approved by the Authority antitrust CADE (Conselho Administrativo de Defesa Economica).
The decision follows that of the Regulatory Authority Anatel (Agência Nacional de Telecomunicações), which on 1 February last, expressed itself in favor of the transfer of control of Oi’s mobile activities.
The completion, which will define a new infrastructural structure of the Telco market in Brazil, is subject to the achievement of certain conditions set out in the sales contract.
TIM confirms that “the transaction, once completed, will bring value not only to its subsidiary in Brazil, but also to the entire Group and its shareholders because it will allow to accelerate growth and increase operational efficiency through significant synergies “. In addition,”Positive effects are also expected for customerssince the transaction is expected to improve the user-experience and quality of the services offered “. Finally,” the transaction is expected to benefit the entire telecommunications sector in Brazil, which will be strengthened in terms of investment capacity, innovation technology and competitiveness “.
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