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Brazil: Oi takeover talks heighten after abandoning auction

 |  September 23, 2014

Brazil wireless operator Oi has reportedly abandoned plans to bid in an upcoming spectrum auction, leading to massive speculation of a takeover.

According to reports, Oi will not participate in 4G cell spectrum. Companies that do not participate in the auction would likely become merger targets, telco watchdog Anatel said earlier this year.

One unnamed industry source said Oi “is positioning itself for a consolidation of the market. That is going to happen and this decision is clearly related.”

With Oi out, only three of the four major wireless carriers will participate in the auction, scheduled for September 30, say reports.

Full content: Reuters

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