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General

Telecom Italia CEO rules out move for Brazil's Oi

Tuesday 18 October 2016 | 15:32 CET | News
Telecom Italia's CEO Flavio Cattaneo has temporarily ruled out any attempt by the group's TIM Brasil unit to acquire a stake in Brazilian operator Oi, reports Reuters, citing an interview with the executive in business daily Valor Economico. Cattaneo said Oi's heavy debt burden was a major obstacle to any potential merger, adding that "if Oi manages to split its debt from its assets... we will be watching." A previous Reuters report said TIM Brasil is monitoring the situation of Oi, whose position is set to become clearer in 2017 after the operator filed for creditor protection.

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Categories: General
Companies: Oi / Telecom Italia / TIM Brasil
Countries: Brazil / Italy
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