Brazil’s telecommunications watchdog Anatel has approved the sale of Oi subsidiary and fibre broadband provider V.Tal to wholesale telecoms operator Globenet.
In a statement, Anatel detailed the transaction will take place in three stages. First, control of Globenet will pass to investment vehicles managed by the BTG Group, control of V.Tal will pass from Oi to Globenet, and the final stage will be Globenet incorporated by V.Tal.
V.Tal was previously known as Infraco UPI and was a new positioning by Oi for operating in the neutral fibre optic networks for the wholesale market.
The sale of V.Tal was one of many divestments from Oi, with the most notable transaction being its mobile assets which were jointly acquired by market rivals America Movil, Telefonica and Telecoms Italia for over US$3 billion.