THE Oi Móvel was sold to Claro, TIM and Vivo in 2020, but the business still generates friction. After a request for arbitration by the buyers who demanded money back, the court granted a precautionary measure in favor of Oi and ordered the trio of operators to deposit the amount of R$ 1.52 billion.
The decision was given by the Court of the 7th Business Court of Rio de Janeiro, responsible for the judicial recovery process of Oi. Of course, TIM and Vivo have up to 48 hours to deposit the amount, under penalty of a 10% fine.
The amount of R$1.5 billion will not be paid immediately to Oi. The amount must be deposited in an account linked to the company’s judicial recovery process, and will be safeguarded until there is a judicial decision on the arbitration process.
The amounts due vary depending on the buyer. THE TIM will pay BRL 669.5 million, taking the largest amount. THE figure attributed to Vivo is R$ 515.5 millionwhile the Of course, the smallest part remains, with R$ 342.7 million.
Of course, TIM and Vivo were not satisfied with the Court’s decision in favor of Oi. according to Value, the trio asked this Tuesday (4) that the Court of Justice of the State of Rio de Janeiro suspend the preliminary injunction. The request for urgent relief argues that the lawsuit threatens any sale of substantial assets in a judicial reorganization.
The sale of the mobile telephony arm is very important for the restructuring of Oi, which is now focused on fixed fiber optic services. In addition to getting rid of the cellular operation, the tele also sold towers, data centers and even your pay-TV wallet.
Oi Móvel arbitration must be completed within 60 days
An arbitration process on the sale of Oi Móvel is taking place on the stock exchange. Claro, TIM and Vivo pointed out divergences in the technical information of the assets and want the operator to return BRL 3.2 billion.
Oi said it disagrees with the values presented by the buyers, and denies any breach of the contract signed with the trio of operators. The arbitration award must be concluded within 60 days, and the telecom hopes that the dispute will be resolved amicably.
Even with the arbitration process in progress, some Oi users have already been migrated to your new carrier. Of course, TIM and Vivo will take over the customer portfolio according to their market share in each area.
With information: teletime