The Brazilian telecommunications regulator Anatel approved on Monday the sale of Oi SA’s mobile phone operations to its local rivals TIM SA, I live from Telefonica Brazil Y Clear, a subsidiary of the Mexican America Movil.
The ruling was expected to come on Friday but was postponed after one of the regulator’s board members asked for more time to look into the matter.
The companies won the assets at auction in 2020 with a joint bid of 16.5 billion reais ($3.11 billion).
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