Oi<\/a>'s mobile operations are expected to be sold to local rivals TIM<\/a> SA, Telefonica Brasil<\/a>'s Vivo<\/a> and Claro, a subsidiary of Mexico's America Movil. They won the assets in a 2020 auction with a joint bid of 16.5 billion reais ($3.06 billion).
Prior to board member Vicente Aquino requesting an additional period of time to review the matter, rapporteur Emmanoel Campelo had recommended the deal be approved with a few reservations.
Shares in Oi were down 7% at 0.93 real in afternoon trading. TIM and Telefonica Brasil<\/a> were up about 0.7% each, while Brazil's Bovespa stock index dropped 0.3%.
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