BTG Pactual, the largest investment bank in Latin America, has won the auction for InfraCo, the fiber business of Brazil’s largest fixed telephone operator, Oi.
Digital Bridge, which owns Brazillian telecommunications company Highline, previously made a proposal for Oi's assets; however, bnamericas reports the fund did not submit a bid during the auction, and no other offers were on the table. Oi accepted BTG Pactual’s binding offer in April.
BTG's fiber cable subsidiary, GlobeNet, will be merged into InfraCo, which is expected to become a wholesale fiber operation that will be leased by other telecommunications companies and internet service providers, according to bnamericas.
GlobeNet owns and operates an underwater fiber cable network that spans 23,500 kilometers (14,602 miles), and serves customers in North and South America, in addition to data centers in Colombia and Brazil.
BTG Pactual will pay R$12.9 billion ($2.5 billion) f
