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General

Asati urges Telecom Italia to merge TIM Brasil, not sell it

Wednesday 5 November 2014 | 09:16 CET | News
Telecom Italia's minority investors association Asati has urged the company not to sell its controlling stake in TIM Brasil, but to consider a potential merger with Brazilian operator Grupo Oi. In a letter to the Telecom Italia board, Asati said an agreement with Oi would represent a great opportunity and could be reached with a "modest" capital hike. However, the shareholder group also clarified that if no such merger were possible, "no offer should be considered if it values TIM Brasil at less than 8.5 times its EBITDA." Asati added that the probable entry of Vivendi in Telecom Italia's

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Categories: General
Companies: America Movil / Oi / Telecom Italia / Telefonica / TIM Brasil / Vivendi
Countries: Brazil / Italy
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