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Mergers and Acquistions News

Categories: Telecoms

January 13th 2009, 15:57PM

Brazilian firm Oi Particiacoes has completed its takeover of rival Brasil Telecom, it has been revealed.

The 5.86 billion reais (£1.7 billion) deal was granted approval by regulators last month and has now gone through.

However, Oi does not seem to be content with resting on its laurels, as the firm's president Luiz Eduardo Falco, told Brazzil magazine.

"New purchases are not out of our radar, but we must check our cash commitments," he said.

Although credit would be more expensive than in the past, Mr Falco is confident the firm will be able to access it if needed.

"Oi has always obtained credit and should continue obtaining it, here and abroad," he added.

Any future deals could see the company expand beyond Brazil, with the Caribbean and Portuguese-speaking African nations possible targets, Mr Falco stated.

Last month, Reuters reported that Brazilian regulators have attached a number of conditions to the deal, including keeping staffing levels the same until at least April 2011.ADNFCR-1833-ID-18970839-ADNFCR

 

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