UPDATE 1-Brazil regulator moves ruling on Oi mobile ops sale to Monday

Reuters
·1 min read

(Adds information about regulator's next meeting, updates share movement)

SAO PAULO, Jan 28 (Reuters) - Brazilian telecom regulator Anatel on Friday postponed its ruling on the sale of Oi SA mobile operations until Monday, as one of its board members asked for more time to analyze the matter.

The regulator's next scheduled meeting would be on Feb. 10, but it decided to set a new extraordinary meeting for Monday, Jan. 31.

Oi's mobile operations are expected to be sold to local rivals TIM SA, Telefonica Brasil's Vivo and Claro, a subsidiary of Mexico's America Movil. They won the assets in a 2020 auction with a joint bid of 16.5 billion reais ($3.06 billion).

Prior to board member Vicente Aquino requesting an additional period of time to review the matter, rapporteur Emmanoel Campelo had recommended the deal be approved with a few reservations.

Shares in Oi were stable at 1.01 real in afternoon trading, after falling as much as 7% earlier. TIM's shares were up about 0.5% and Telefonica Brasil about 0.8% each, while Brazil's Bovespa stock index dropped 0.1%. ($1 = 5.4000 reais) (Reporting by Alberto Alerigi Jr.; Writing by Gabriel Araujo Editing by Tomasz Janowski and David Gregorio)

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