China Mobile is negotiating to acquire the mobile division of Oi, the largest telecommunications company in Brazil and South America, according to report in The China Daily.
The deal has not been finalized. China Mobile might have to pay US$3.5 billion in fines owed by Oi to the Brazilian telecoms authority, known as Agencia Nacional de Telecomunicacoes, or Anatel.
If it goes through, the deal would be historic on several fronts. None of the...