By Brazil Stock Guide – Oi SA (OIBR3) set a minimum price of 60 million reais ($12 million) for the sale of its telecom services unit as the Brazilian telecommunications company continues to restructure under court supervision.
The company published a notice on Wednesday (March 11) detailing the judicial sale of 100% of the shares of the isolated productive unit known as UPI Serviços Telefônicos, which includes fixed-line telephony services and related infrastructure.
The sale will be conducted through a competitive sealed-bid process, with the minimum acquisition price set at 60 million reais. The payment must be made fully in cash at the closing of the transaction.
Assets included in the unit comprise switched fixed telephony services (STFC), three-digit telecom services and interconnection operations. The unit also carries the obligation to maintain fixed voice services in approximately 7,400 locations through December 2028.
The package further includes Oi’s tower infrastructure used in the provision of these services, forming part of the network that supports the company’s fixed-line operations.
Under the terms of the notice, the telecom services unit will be transferred free and clear of any liabilities, ensuring the buyer will not assume debts associated with those assets.
Interested bidders must submit sealed proposals and meet several requirements, including proof of legal standing, financial capacity to pay the purchase price and authorization to provide fixed telephony services.
Participants must also hold a valid telecommunications operator registration with Brazil’s telecom regulator Anatel.
The bidder presenting the highest offer above the minimum price will be declared the winner by the court overseeing Oi’s restructuring.
The opening of the sealed bids is scheduled for Tuesday (April 8) at 3 p.m., when the court is expected to evaluate and potentially approve the transaction during the same hearing.