Brazil’s Oi Inks $772M Deal To Shed Fiber-Optic Assets

Law360, New York (July 15, 2013, 2:26 PM EDT) -- Brazilian telecommunications giant Grupo Oi SA selling its underwater fiber-optic cable units to a buyer group led by investment firm Grupo BTG Pactual SA for 1.7 billion reais ($772 million), the company said in a Monday securities filing.

In the deal, the BTG Pactual consortium — anchored by one of the investment bank's private equity funds — will swallow up the Brasil Telecom Cabos Submarinos Ltd. and GlobeNet businesses. The transaction covers a nearly 14,000-mile underwater fiber-optic system run by GlobeNet that supplies data capabilities to...
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