Brazilian business outlet Valor Economico has named Banco BTG Pactual as one of the ten investors that have bid for Oi’s holding in fibre firm InfraCo.
The offer was made by a private equity firm that the bank advises. According to CommsUpdate, BTG is after a 50% voting stake in the unit along with 25% of its total capital.
Reportedly, the bank’s offer is worth BRL13.9 billion (US$2.7 billion). While the bid for the stake itself is BRL6.5 billion, the bank is also putting up BRL2.4 billion to clear the unit’s debt and investing a further BRL5.0 billion.
InfraCo has a market value of around BRL25.5 billion.