TIM together with Telefonica Brasil (VIVO) and Claro has won a contract — through the competitive sale process — for buying Oi Group’s mobile business for 16.5 billion reais (approximately 2.7 billion euros).

The completion of the transaction, expected during 2021, is in subject to the authorization of the competent Authorities.

The purchase plan provides for TIM Brasil, Telefonica Brasil and Claro to divide Oi’s mobile assets and, in particular, its customers, radio frequencies and mobile access infrastructure.

TIM Brasil will be allocated:

Approximately 14.5 million customers (corresponding to 40% of UPI Ativos Moveis’ total customer base) – according to Anatel’s data of April 2020. The allocation took into consideration criteria that favour competition among the operators present in the Brazilian market;

Approximately 49 MHz as a national average weighted by population (54% of UPI Ativos Móveis radio frequencies). The division of frequencies strictly respects the spectrum limits per group established by Anatel;

Approximately 7.2 thousand mobile access sites (corresponding to 49% of total UPI Ativos Móveis sites).