Vivo, Tim and Claro buy assets from Oi mobile network for $3.3 bn

Vivo, Tim and Claro acquired in auction the assets of Oi’s mobile telephony network for the price of R$16.5 billion ($3.3 bn). With the auction Oi will operate only the optical fibre network. Estimates point out that Vivo, Tim and Claro participation will rise from 33% to 37%, from 23% to 32% and from 26% to 29%, respectively.

Source: Spacemoney