Brazil’s Oi Accepts $3.1 Billion Joint Bid for Mobile Unit (2)

Struggling carrier Oi SA accepted a 16.5 billion-real ($3.1 billion) offer for its mobile business from the Brazilian units of Telefonica SA, Telecom Italia SpA and America Movil SAB, granting them privileged bidding rights in an auction that could end years of failed takeover attempts in the nation’s telecom sector.

Oi said in a filing late Monday that the joint bid from Telefonica Brasil, Tim and Claro qualified as “stalking horse” in a auction for the company’s mobile unit, and given the right to top other proposals.

If they win the auction, which is expected to happen in October, the ...