Business

Digital Colony's Highline withdraws from Oi's mobile assets auction

In an interview with Teletime portal, Highline's strategy and new business director, Luis Minoru Shibata, clearly stated that the company "has no intention of revising the current proposal or participating in the auction"

Photo: Shutterstock
  • The Brazilian telecom company Oi had signed an exclusive agreement with Highline do Brasil, a division of U.S private equity firm Digital Colony, for its mobile assets;
  • Oi is waiting for the stage of sending binding proposals for fiber optic assets (InfraCo).

The Brazilian telecom company Oi had signed an exclusive agreement with Highline do Brasil, a division of U.S private equity firm Digital Colony, for its mobile assets, as it negotiates the sale of its mobile operation. However, according to O Globo, Highline gave up about Oi’s auction.

READ ALSO: Brazilian carrier Oi signed an exclusive deal with Highline for mobile assets

After the proposal of the three telecoms (Vivo, Tim, and Claro) secured the stalking-horse bid, Highline started to signal its interest in acting as a provider of infrastructure for operators. However, the company still maintained its proposal by Oi on the table.

READ ALSO: Brazilian telecom carrier Oi’s mobile operation will be sold in shares to Tim, Telefônica and Claro

But in an interview with Teletime portal, Highline’s strategy and new business director, Luis Minoru Shibata, clearly stated that the company “has no intention of revising the current proposal or participating in the auction.”

In addition to securing the stalking-horse bid to acquire Oi’s tower assets (TowerCo), the company is waiting for the stage of sending binding proposals for fiber optic assets (InfraCo).

Get the best insights about Latin America market in your inbox