Brazil’s Algar Telecom, US fund Digital Colony to make joint bid for Oi’s mobile unit: Paper

SAO PAULO: Brazilian telecoms firm Algar Telecom SA has joined efforts with U.S. fund Digital Colony to make a bid for the mobile unit of bankrupt carrier Oi SA, local newspaper Valor Economico said on Tuesday, citing two unnamed sources.

The bid competes with at least one other offer jointly presented by the country’s major telecoms operators: TIM Participacoes S, Telefonica Brasil SA and America Movil’s Claro, the media outlet added.