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Italy to use state fund to avoid TIM Brasil break up -report

Tuesday 23 September 2014 | 09:36 CET | News
The Italian government will do everything in its power to prevent the break up of TIM Brasil and is even prepared to use the country's state-backed sovereign fund to help Telecom Italia retain its Brazilian unit, according to a report in Spanish business daily El Economista. Telecom Italia is currently examining the possibilities of countering an initiative by rivals America Movil, Telefonica and Oi to launch a BRL 30 billion bid for TIM Brasil, which could occur shortly after the Brazilian presidential elections of 05 October. In this regard, unnamed sources indicate that the government of

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