Telecommunications operators TIM, Claro and Telefônica Brasil asked for a reduction of R$ 3.2 billion in the total price of the purchase of Oi Móvel, alleging divergences in technical information about the assets.
Oi said in a material fact this Monday (19) that it received notification from the buyers regarding the post-closing price adjustment of the operation. The company has 30 working days to present a disagreement on the points raised by rivals and has already said that it will take the appropriate measures.
In practice, Oi would have to return R$ 1.74 billion, as TIM, Claro and Telefônica Brasil had already withheld an amount for potential closing price adjustments or indemnities.
Of these nearly R$1.8 billion — the difference between the R$3.2 billion notified and the total retained by the companies — R$769 million would be returned to TIM, R$587 million to Telefônica Brasil and R$383 million to Of course, from Mexico’s America Movil.
Oi said that it strongly disagrees with the value claimed by the buyers and stated that the adjustments present “procedural and technical errors”, with “mistakes in the methodology, criteria, assumptions and approach adopted”.
Telefônica Brasil, Claro and TIM won the right to the company’s assets at the end of 2020, with a joint offer of BRL 16.5 billion, in an auction that counted only on the group’s offer. The deal passed through the scrutiny of regulators including the National Telecommunications Agency (Anatel) and the Administrative Council for Economic Defense (Cade).
THE CNN Brazil asked the companies for comments and awaits a response.
Source: CNN Brasil
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