By Brazil Stock Guide – Oi SA (OIBR3.SA) secured a partial victory in an arbitration case against Brazil’s telecom regulator, Agência Nacional de Telecomunicações (Anatel), over the economic balance of its former fixed-line concession.
The ruling, issued by the International Court of Arbitration of the International Chamber of Commerce (ICC), determined that the telecom has not lost the right to challenge the alleged economic imbalance in the concession contract for the switched fixed telephone service. The concession expired in 2025.
In a filing to Brazil’s securities regulator Comissão de Valores Mobiliários (CVM), the company said the arbitration panel fully granted its request to dismiss claims that it had forfeited the right to seek restoration of the contract’s economic balance.
The panel, however, partially recognized statute-of-limitations arguments related to some events cited by Oi as sources of the financial imbalance. This limits the scope of certain claims presented by the company during the proceedings.
At the same time, the tribunal rejected Oi’s request to declare the former concession economically unviable and denied the compensation claim linked to that argument.
According to the company, the ruling is partial and the arbitration process will now move into the evidence and expert analysis phase. This stage will examine the facts presented by both sides and determine potential compensation amounts tied to the alleged imbalance in the concession.
Oi has been seeking damages related to what it describes as losses caused by the failure to restore the economic equilibrium of the concession during its operation.
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