The General Superintendence of the Administrative Council for Economic Defense (Cade) recommended that the transaction involving the sale of movable assets of the Hi for TIM, Claro and Telefônica Brasil is approved with the adoption of remedies that mitigate competitive risks.
Oi’s mobile telephony assets – which has been under judicial reorganization since 2016 – were targeted for sale in December of last year and TIM, Claro and Telefônica Brasil presented a joint offer for their division.
“The analysis carried out by the Superintendence demonstrates that the concentration act has the potential to reduce the incentive for TIM, Claro and Telefônica Brasil to provide this access to other competitors”, stated Cade in a note.
To mitigate competition problems, the Superintendence negotiated an Agreement on Concentration Control (ACC) with the companies, which includes commitments to offer sharing and rental of spectrum acquired from Oi in municipalities with less than 100,000 inhabitants.
The case will now be evaluated by the Court of Cade, responsible for the final decision. The agency will have up to 240 days, extendable for another 90, to conclude the judgment of the transaction.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
