Highline do Brasil emerged as the winning bidder for a special purpose vehicle called SPE Torres 2, which holds around 8,000 fixed network infrastructure sites used to support Oi's network infrastructure.

In fact, it seems that Highline unit NK 108 was the only bidder for what is one of the few remaining assets to be sold off by Oi, the Brazilian telecoms provider that has been gradually offloading fixed and mobile infrastructure after filing for bankruptcy protection in 2016.

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It had been reported that tower companies American Tower Corp (ATC) and IHS Holding were potentially interested in the sites. However, Oi confirmed that no other proposals for SPE Torres 2 were submitted during a court hearing in Rio de Janeiro on Monday. Thus the original binding offer made by NK 108 at the beginning of August now stands.

NK 108 is to acquire all of the shares in SPE Torres 2 for up to 1.69 billion Brazilian reais (US$327 million), of which BRL1.08 billion ($212 million) would be paid at closing and the rest by 2026. Approval of the acquisition is still required from regulators Anatel and CADE.

With the sale of the fixed towers as well as its TV assets (to Sky) now underway, it seems that Oi is entering the final phase of its reorganization process.

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— Anne Morris, contributing editor, special to Light Reading