Oi selling towers to NK 108 for BRL1.7B

Oi selling towers to NK 108 for BRL1.7B

In a statement to shareholders, Brazil’s Oi has confirmed that it has agreed to sell some of its tower infrastructure to NK 108 Empreendimentos e Participacoes (NK 108) for BRL1.697 billion (USD324.6 million).

The agreement covers the creation of a special purpose vehicle - SPE Torres 2 – which will transfer Oi’s infrastructure to NK 108. Once the deal has closed, NK 108 – which is an affiliate of Highline (Highline do Brasil II Infraestrutura de Telecomunicacoes) – will pay BRL1.088 billion of the total agreed sum, paying the remainder through to 2026 with the rate based on how much it uses the infrastructure.

The deal requires approval from Brazil’s regulator Anatel (Agencia Nacional de Telecomunicacoes / National Telecommunications Agency), as well as CADE (Conselho Administrativo de Defesa Economica / Administrative Council for Economic Defence).

CommsUpdate reports that in August 2022 when NK 108 made its initial offer, a filing from Oi specified that the proposal covered 8,000 ‘fixed infrastructure sites’. However, the operator has since confirmed that the sites referenced are in fact cell towers.

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