American Tower Corporation and IHS Holding are reportedly in the running for Brazilian operator Oi’s tower assets, competing against rival Highline which has already submitted a binding proposal.
Reuters reported, that Brazilian publications Tele Sintese and O Estado de S said the two firms are interested in the 8,000 towers held by bankrupt Oi, citing sources close to negotiations.
Propositions for the towers have to be submitted today at the Rio de Janeiro bankruptcy court with a minimum price of BRL1.7 (US$326 million) matching Highline’s proposal.
Oi, American Tower did not respond to Reuter’s request for comment, and IHS declined to comment.
Oi is currently in the midst of selling off its assets after officially declaring itself bankrupt this year, a saga which had protracted due to the detractors aiming to cease the sale through regulators, citing competition concerns. Rivals Claro, Telefonica (Vivo) and TIM joined forces to get the deal over the line and divided the assets among themselves.