L1 withdraws offer to support Oi after TIM walks away

Friday 26 February 2016 | 09:29 CET | News
Brazilian operator Oi announced that LetterOne Technology (L1 Technology) has issued a press release stating that it has been informed by TIM that TIM does not wish to enter into further discussions about a business combination with Oi in Brazil. L1 Technology said that, without TIM's participation, L1 Technology can't proceed with the proposed transaction as previously envisaged. Given this information, Oi said it will evaluate the impact of the possibility of consolidation of the Brazilian market.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: America Movil / Claro / L1 / Oi / Portugal Telecom / Telecom Italia / Telefonica / TIM / TIM Brasil / Vivendi / Vivo
Countries: Brazil
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Telecom Italia CEO rules out move for Brazil's Oi

Published 18 Oct 2016 15:32 CET | Brazil
Telecom Italia's CEO Flavio Cattaneo has temporarily ruled out any attempt by the group's TIM Brasil unit to acquire a stake in ...

Telecom Italia about to name new TIM Brasil CEO - report

Published 02 May 2016 08:56 CET | Brazil
Telecom Italia is considering management changes at its Brazilian unit, TIM Brasil, with company veteran Stefano De Angelis the ...

Oi breaches financial covenants

Published 11 Apr 2016 09:13 CET | Brazil
Brazilian operator Oi announced it has breached the financial ratios required under some of its outstanding debt issues. ...

Oi revenues fall 8.5% in Q4, no guidance for 2016

Published 24 Mar 2016 16:35 CET | Brazil
Brazilian operator Oi ended the fourth quarter of 2015 with BRL 6.70 billion of net revenues, down 8.5 percent on the same period ...

Brazil's Oi targeted by US funds – report

Published 17 Mar 2016 13:13 CET | Brazil
Brazilian operator Oi is on the radar of US funds Cerberus and Elliot, according to Brazilian newspaper O Globo. The shareholders ...

Oi negotiates debt swap for shares - report

Published 16 Mar 2016 12:26 CET | Brazil
After suffering downgrades of its credit ratings, Brazilian operator Oi is planning to negotiate with its creditors on swapping ...

Fitch downgrades Oi rating to CCC

Published 14 Mar 2016 09:17 CET | Brazil
Fitch has announced its review of the credit rating attributed to Brazilian operator Oi. The agency downgraded the long-term ...

Oi contracts PJT Partners to renegotiate debt - report

Published 03 Mar 2016 11:38 CET | Brazil
Brazilian telecom operator Oi has contracted PJT Partners and Rothschild to refinance about BRL 13 billion of debt maturing by ...

Moody's downgrades Oi credit rating to Caa1

Published 01 Mar 2016 16:39 CET | Brazil
Moody's announced its review of the credit rating for Brazilian telecom operator Oi and said it downgraded the long-term rating ...

Oi hires advisors to restructure BRL 60 bln debt - report

Published 01 Mar 2016 12:40 CET | Brazil
Brazilian operator Oi has contracted advisors to help it restructure its debt totalling BRL 60 billion, a source close to the ...

Oi foreign currency bonds lose USD 2 bln in value in 1 day

Published 29 Feb 2016 10:12 CET | Brazil
Brazilian operator Oi's foreign currency debt lost almost USD 2 billion in market value on 25 February after Russian billionaire ...

Claropar increases capital by BRL 1.9 billion

Published 29 Feb 2016 09:33 CET | Brazil
The shareholders of Brazil's Claro Telecom Participacoes (Claropar), the parent company of Claro, has approved a capital increase ...

S&P, Fitch cut Oi's ratings

Published 29 Feb 2016 08:36 CET | Brazil
Standard & Poor's announced its review of the credit rating attributed to Brazilian operator Oi, downgrading the long-term global ...

Telecom Italia to focus on fixed acceleration - chairman 

Published 09 Feb 2016 09:05 CET | Italy
Telecom Italia is set to focus on fixed network acceleration in a new business plan to be presented next week, according to the ...

TIM Brasil CEO says no talks with Oi

Published 08 Feb 2016 09:31 CET | Brazil
TIM Brasil CEO Rodrigo Abreu said that the operator's data revenues should exceed revenues from voice this year, reports Reuters. ...

Oi negotiating USD 1 bln credit line for TIM deal - report

Published 20 Jan 2016 15:11 CET | Brazil
Brazilian operator Oi is negotiating a credit line of as much as USD 1 billion with Barclays and Banco Santander to refinance ...

Telecom Italia, Oi negotiating TIM deal - report

Published 08 Jan 2016 08:40 CET | Brazil
Brazilian operator Oi and Telecom Italia have begun talks over a possible merger of Oi and TIM Brasil, according to unnamed ...

Pharol says merger with TIM would resolve problems at Oi

Published 06 Jan 2016 13:55 CET | Brazil
The president of the board of Pharol (formerly Portugal Telecom), which is the biggest shareholder of Oi, said that a merger of ...

Oi postpones Unitel sale, TIM merger to January - report

Published 18 Dec 2015 11:02 CET | Brazil
Brazilian operator Oi will wait until after Christmas to sell its stake in Angolan mobile operator Unitel and move forward with ...

TIM Brasil open to M&A if opportunities arise

Published 10 Dec 2015 14:14 CET | Brazil
The CEO of TIM Participacoes, Rodrigo Abreu, said that the telecommunications provider will review opportunities for ...

Oi waiting for new Telecom Italia board to present merger

Published 25 Nov 2015 13:26 CET | Brazil
Brazilian operator Oi is waiting for clarifications about the board of directors of Telecom Italia, owner of TIM Brasil, before ...

LetterOne open to other options if Oi deal fails - report

Published 04 Nov 2015 16:34 CET | Brazil
Alexey Reznikovich, the managing partner of LetterOne's telecoms and technology division, told Bloomberg that even if a deal with ...

Oi gets offer for capital injection with TIM deal

Published 26 Oct 2015 13:37 CET | Brazil
The LetterOne (L1) fund, owned by Russian billionaire Mikhail Fridman, has made an offer to provide USD 4 billion to Brazilian ...

Oi looks to consolidate but with no plans yet with TIM

Published 08 Oct 2015 16:26 CET | Brazil
Brazilian operator Oi has issued a statement to the Brazilian Securities and Exchange Commission in which it confirms there is no ...

Calendar   /   Industry Events

04 May 6G Symposium
05 May Dell Technologies World
06 May Teleste Q1 2021
06 May Gogo Q1 2021
06 May TDC Q1 2021
06 May Ice Group Q1 2021
06 May Freenet Q1 2021
06 May RTL Group Q1 2021
06 May Pexip Q1 2021
06 May Avaya fiscal Q2
06 May Roku Q1 2021
06 May Vonage Q1 2021
06 May Cable One Q1 2021
06 May Motorola Solutions Q1 2021
06 May EchoStar Q1
06 May Globalstar Q1
06 May IAC Q1 2021
06 May Uniti Q1 2021
06 May PCTEL Q1 2021
07 May Cellnex Q1 2021
07 May TDS, US Cellular Q1
07 May Telus International Q1 2021
10 May Boingo Wireless Q1 2021
10 May Ceva Q1 2021
10 May Weibo Q1 2021
10 May 8x8 fiscal Q4 results
10 May NortonLifeLock fiscal Q4, investors day
10 May Synchronoss Q1
11 May Magyar Telekom Q1 2021
11 May Radcom Q1 2021
::: More Calendar Items