América Móvil’s Claro, Telefônica Brasil and TIM Participações have exclusivity until tomorrow, 11 August, but that will be renewed unless either party drops out.
Highline do Brasil, owned by Marc Ganzi’s Digital Colony, had a previous exclusivity arrangement, but that bidder dropped out last week. Highline has not renewed its exclusive status, say reports from Brazil.
The América Móvil–Telefónica–TIM trio had previously agreed to pay the equivalent of US$2.9 billion for Oi, in what they called a “binding offer” three weeks ago.
According to last month’s reports, Oi will create four units in towers, data centres, mobile assets and fibre infrastructure – all of which will be sold either partially or in its entirety.
It is not clear whether the consortium will buy all four units if it pursues its status.
According to Reuters at the weekend, if the talks conclude satisfactorily, Oi can pre-qualify the bidders under “stalking horse” conditions, which grants the first bidders the right to match potential other bids as part of the competitive sale process of Oi Group's mobile business.
