Oi considers takeover bid for TIM Brasil

News General Brazil 27 AUG 2014
Oi considers takeover bid for TIM Brasil
Brazilian operator Oi announced it's considering a takeover bid for rival TIM Brasil. Oi said it hired Banco BTG Pactual to review its options for a bid for the Telecom Italia subsidiary. 

The announcement comes as Telecom Italia is looking at its own acquisition in Brazil, of broadband operator GVT, owned by Vivendi. Earlier this year it reportedly considered breaking up TIM in a sale to other operators. Telecom Italia's largest shareholder Telefonica is under pressure from Brazilian regulators to resolve its holdings in the country, as it also controls the largest mobile operator, Vivo. 

Oi is Brazil's fourth-largest mobile operator, with just over 50 million customers. TIM ranks second, just behind Vivo, with over 74 million subscribers. 

Categories:

General

Companies:

Telecom Italia,  GVT,  Oi,  TIM Brasil,  Vivo,  Vivendi,  Telefonica

Countries:

Brazil

Tags:

M&A buyouts & divestments

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