Digital Colony to back Algar's bid for Oi, report says

摘要

Digital Colony Management, the US-based digital infrastructure investment platform of Colony Capital, is set to back Algar Telecom's surprise takeover bid for Oi's mobile assets, Veja reports. This development follows the confirmation that Claro Brasil, Telefonica Brasil (Vivo) and TIM Brasil submitted a three-way bid for the mobile assets of the financially stricken telecoms operator late last week. Regional player Algar already has heavyweight backing from Singaporean sovereign wealth fund GIC, which acquired a 25% stake in the Uberlandia-based telco in March 2018. Previously, in December 2019 Digital Colony signaled its interest in the Brazilian marketplace, when it announced the acquisition of tower firm Highline do Brasil Ⅱ Infraestrutura de Telecomunicacoes (Highline), from Patria Investments. Founded by Patria in 2012, Highline has a portfolio of wireless infrastructure assets, including macro towers, which spans all the major urban, suburban, and rural areas of Brazil. The company counts all of Brazil's major mobile network operators, including TIM Brasil, Vivo, Claro and Oi as its customers.