Highline wins Brazilian telecom Oi tower auction with $330 million bid

RIO DE JANEIRO: Cellular infrastructure company Highline on Monday successfully offered 1.7 billion reais ($329.64 million) to buy 8,000 fixed line towers from Brazilian telecom firm Oi SA, placing the sole bid in the auction for the assets, a document showed.

Highline, a unit of DigitalBridge Group Inc, will pay 1.08 billion reais at the closing of the deal and up to 609 million reais by 2026, depending on the use of the fixed-line infrastructure.

American Tower Corp and IHS Holding were reportedly interested in the assets, but did not submit bids.