HOME > Business

BTG pays Oi R$ 1,7 billion for a company that was allegedly owned by the government.

GlobeNet, the submarine cable company, should, according to Proteste, be returned to the Union in 2025, when the telephone operator's concession expires; Anatel is examining the case.

GlobeNet, the submarine cable company, should, according to Proteste, be returned to the Union in 2025, when the telephone operator's concession ends; Anatel is examining the case (Photo: Felipe L. Goncalves)

247 - The sprawling BTG Pactual may have acquired, for R$ 1,7 billion, a company that should not have been sold.

In July, the telecommunications operator Oi quietly sold GlobeNet, a company that transmits data via submarine cables, to André Esteves' bank. The problem is that, according to the terms of the concession contract held by Oi, GlobeNet is one of the assets that must be returned to the Federal Government in 2025, when the current contract expires. Just like the submarine cable company, Oi sold three buildings last year for R$ 340 million, which fall under the same situation.

The understanding that the assets sold must be returned to the Union within 12 years comes from Proteste – the Brazilian Association for Consumer Protection, which is always attentive to major maneuvers by companies that have direct contact with the general public.

According to journalist Mônica Bergamo's column, which published the information about the imbroglio this Friday, the 23rd, in Folha de S. Paulo, the Oi replied that they did everything correctly. They added that the case is under review by Anatel, which, however, has not yet commented on the matter.

The ever-shrewd Esteves may have gotten himself into a billion-dollar mess through GlobeNet's submarine cables.