SAO PAULO (Reuters) – Telecoms Tim Participacoes (TIMP3.SA), Telefonica Brasil (VIVT4.SA) and America Movil’s Claro (AMXL.MX) on Monday night raised their bid to buy Oi SA’s (OIBR4.SA) mobile assets out of bankruptcy for 16.5 billion reais ($3.21 billion).
The new offer comes after Oi said it had begun exclusive talks with another potential buyer, called Highline do Brasil, a portfolio company of U.S. private equity firm Digital Colony.
Oi has not disclosed the value of Highline’s offer, but said it was above 15 billion reais.
Tim, Telefonica Brasil and America Movil’s Claro brand have a large presence in Brazil. The companies added that their proposal also considers “the possibility of signing long-term contracts for the use of Oi Group’s infrastructure.”
Reporting by Marcelo Rochabrun; Editing by Kim Coghill