TIM announced that its Brazilian subsidiary TIM S.A., together with Telefônica Brasil S.A. (VIVO) and Claro S.A., has completed the acquisition of Oi Group’s mobile asset for a total consideration of approximately 7 billion reais.
The closing comes after approval of the transaction by the local authorities (CADE and Anatel).
As a result of the closing of the acquisitions there will be a new infrastructural balance in the Brazilian market, with three major operators ensuring a high level of competition, customer benefits and adequate investment for the development of telecommunications infrastructure and the digitalization of the country.
Rome, 20 April 2022
