Brazil competition regulator signals 'complex' path for Oi sale approval
- Wall Street ends sharply lower in broad sell-off
- China Property Titan Evergrande (EGRNF) Collapses to 11-Year Lows, Analysts Wary of Domino Effect
- Apple (AAPL) iPhone 13 Has Strong Start with Positive Mix Skew - JP Morgan
- Lennar (LEN) Falls as Reported Q3 Revenue Beats, EPS Slightly Missed Estimates
- Royal Dutch Shell to Sell its Permian Business to ConocoPhillips (COP) for $9.5 Billion Cash
FILE PHOTO: The logo of Brazilian telecoms company Oi SA is pictured inside a store in Sao Paulo, Brazil July 18, 2018. REUTERS/Paulo Whitaker
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
SAO PAULO (Reuters) - The superintendence of Brazil's competition regulator Cade said on Friday it viewed an asset sale by Brazilian telecom Oi SA as "complex," suggesting that TIM, Telefônica Brasil and América Móvil's Claro may struggle to wrap up a quick sale.
The three companies won an auction to buy Oi's mobile network operations for 16.5 billion reais ($3.17 billion) in December, pending regulatory approval, after Oi filed for bankruptcy protection in 2016.
The decision by Cade's superintendence informs whatever final move the full board of the regulator may give.
($1 = 5.2006 reais)
(Reporting by Gabriel Stargardter; Editing by Chris Reese)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Massive uncut diamond unveiled in New York
- Megan Rapinoe, other women athletes back abortion rights at U.S. Supreme Court
- Biden administration seeks to lift U.S. refugee cap to 125,000
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!