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General

Telecom Italia in no rush to bid for Brazil's Oi – report

Monday 15 December 2014 | 08:58 CET | News
Telecom Italia has decided not to make a bid for a controlling stake in Oi until the Brazilian operator cuts its debt and renews its operating permits, according to unnamed sources familiar with the matter cited by Reuters. The board of Telecom Italia last month mandated CEO Marco Patuano to "examine in-depth the options for a possible integration" of its local unit TIM Brasil and Oi. Telecom Italia is looking to secure 51 percent of the merged company, and its analysts last month predicted potential synergies of around EUR 7 billion. However, Oi is currently trying to cut down its EUR 17

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Categories: General
Companies: Altice Europe / Oi / PT Portugal / Telecom Italia / TIM Brasil
Countries: Brazil / Italy
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