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General

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.

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