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Brazil: Oi merger swiftly approved

 |  January 31, 2014

A merger between Portugal Telecom and Oi has reportedly received unconditional regulatory clearance from authority CADE, say reports.

The merger between the Portuguese and Brazilian wireless operators reportedly did not receive any objections filed to CADE ahead of last Wednesday’s deadline. The merger was first announced last October.

The merger comes as Brazil’s wireless industry remains in limbo regarding competitor TIM, owned by Telecom Italia, as Spain’s Telefonica may be forced to divest TIM for upping its control over Telecom Italia.

Full Content: Wall Street Journal

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