TIM: Cade’s decision on Oi Móvel preserves the interest of the business and society

The terms of approval of the sale of Oi Móvel in judgment this Wednesday (9) of the Administrative Council for Economic Defense (Cade) were considered positive by TIM.

The operator published a note stating that “the approval decision preserves the interest of the business and society”, as well as guarantees “the maintenance of the competition ecosystem and necessary investments for the development” of the sector, according to the words attributed to the CEO, Alberto Griselli. .

The statement indicates that the purchase of Oi’s mobile network remained attractive, in financial terms, despite the increase in the conditions defined by Cade in the last meetings.

Griselli also said, in a note, that TIM is prepared to take over most of Oi’s mobile assets, definitively, after more than a year of waiting for the judgment by the antitrust body.

The sale of Oi Móvel took place through an auction held in December 2020, when TIM, Vivo and Claro won with a bid of BRL 16.5 billion.

TIM will be responsible for the largest disbursement for the purchase of Oi Móvel. It will pay R$ 7.3 billion (44% of the total). In addition to most customers, TIM is the company that will receive most of Oi Móvel’s radio frequencies.

“The resumption of efficiency and productivity of these mobile assets, combined with the arrival of 5G technology, will allow the technological acceleration of a strategic sector for the economy, with beneficial effects for the next decades”, added Griselli.

Without naming names, the statement also referred to the fact that the money from the sale of mobile networks will help Oi to invest in the expansion of its fiber optic networks, the largest of its kind in Brazil.

“The solution found by the authorities brings an additional gain of high relevance, as it allows the installation of a neutral national fiber network to progress, a crucial infrastructure for the development of the sector and the country”, describes the note.