The Superior Court of Justice (STJ) denied the request of Claro, TIM and Vivo, forcing them to deposit the amount of R$ 1.5 billion, in court, for the acquisition of Oi’s mobile network. The decision was signed by Minister Maria Thereza de Assis Moura on Wednesday (19) and published in the Electronic Justice Gazette only this Thursday (20).
For the minister, even though the amount is “high”, it corresponds to about 10% of what was agreed. According to her, the amount does not represent greater risks for the activities of the buyers – especially when compared to what they have already disbursed “as a distribution of profits and dividends”.
In fact, they represent around 10% (ten percent) of the contract, and it is not unreasonable to think that this amount was already provisioned in the respective balance sheets and, therefore, will not affect their commitments and business, after all it is not about (possible) unexpected or unforeseen expense, on the contrary.
The minister called the companies’ appeal illegitimate and even spoke about the risk to consumers that companies fear. For her, “there are only assumptions and assertions that a (possible) decapitalization could have harmful consequences for the service provided. Nothing, however, is concrete.”
Disbursement must take place by the 25th
The disbursement should happen within 48 hours, but the teles seem to have won an extension of 10 working days from the date of notification – which may have extended the deadline to the 25th of this month.
Claro, Vivo and TIM went to the STJ in order to appeal the deposit of R$ 1.5 billion, which is nothing more than the return of part of this amount retained as collateral for eventual adjustments in the final value of the transaction plus monetary correction.
The decision was granted on the 3rd of October by Judge Fernando Viana, of the 7th Business Court of Rio de Janeiro, where Oi’s judicial recovery process is taking place.
The operators, in fact, allege divergences in technical information about the assets. Not only do they want to keep this money, they also ask return of approximately BRL 3.2 billion than was agreed by purchase of Oi Móvel
The company disagrees with the request and points out calculation errors and mistakes on the part of its buyers. Finally, Oi denies any breach of the contract signed with its competitors.