Brazilian telecommunications regulator Anatel has approved the sale of Oi subsidiary and fiber optic broadband provider V.Tal to wholesale telecommunications operator Globenet.
In a statement, the agency detailed that the transaction will take place in three stages. First, control of Globenet will be transferred to an investment vehicle managed by BTG Group, control of V.Tal will be transferred from Oi to Globenet, and the final stage will be the merger of V.Tal into Globenet.
V.Tal, previously known as Infraco UPI, is Oi's new niche for operating in a neutral fiber network in the wholesale market.
The sale of V.Tal is one of many divestments for Oi, the most notable of which was the joint acquisition of its mobile assets by market rivals America Movil, Telefonica and Telecoms Italia for more than $3 billion.
