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General

Claro, Vivo, Oi reach agreement to buy TIM - report

Friday 31 October 2014 | 12:07 CET | News
Brazilian mobile operators Claro and Vivo have signed an agreement with the BTG Pactual bank to, along with Oi, buy TIM Brasil, the second largest player on the Brazilian market, and divide it into three, reports Folha de Sao Paulo. The value of the bid was unknown, but may reach BRL 31.5 billion, the largest deal in the sector in Brazil. The price is about BRL 30 billion, plus a 5 percent premium paid to shareholders, including minority. The daily learned that an open offer will be made to the shareholders of Telecom Italia, owner of TIM Brasil, who will decide during a shareholders meeting.

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Categories: General
Companies: Anatel / Claro / Oi / Portugal Telecom / Telecom Italia / TIM Brasil / Vivendi / Vivo
Countries: Brazil
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