Salem Radio Network News Monday, September 26, 2022

Business

Brazil telecom towers auction expected to draw U.S. bids – report

SAO PAULO (Reuters) – American Tower Corp and IHS Holding may bid for 8,000 towers put on sale by Brazilian telecoms firm Oi SA in an auction in which infrastructure group Highline already has a binding proposal, Brazilian media reported on Friday.

Brazilian specialized website Tele Sintese and newspaper O Estado de S. Paulo reported the new companies interested, citing people with knowledge of the matter.

Proposals should be delivered by Monday afternoon at the bankruptcy court in Rio de Janeiro, with a minimum price of 1.697 billion reais ($326 million), equivalent to Highline’s binding proposal.

Oi and American Tower did not immediately respond to Reuters’ requests for comment. IHS declined to comment.

($1 = 5.2055 reais)

(Reporting by Tatiana Bautzer; Editing by Jan Harvey)

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