TIM mulling bid for Brazil's Nextel - report

Nieuws Mobiel Brazilië 20 SEP 2018
TIM mulling bid for Brazil's Nextel - report

Telecom Italia (TIM) is evaluating a bid for Brazil’s fifth largest mobile operator Nextel via its TIM Brasil unit, according to unnamed sources cited by Bloomberg. The aim would be to boost TIM Brasil’s market share and gain spectrum in some metropolitan areas, said the report, adding that TIM CEO Amos Genish may discuss the possibility at a 24 September board meeting. If approved, the company will start hiring advisers to explore the potential offer.

Nextel is the Brazilian unit of New York-listed NII Holdings, which reportedly hired Rothschild earlier this year to advise on the sale of its 70 percent stake. Nextel Brasil had around 3.1 million customers at the end of Q2, but with an EBITDA close to zero, while TIM Brasil ended the quarter with 56.55 million customers.

TIM is also reportedly preparing to discuss the sale of non-core assets including its Sparkle and Persidera units at the 24 September board meeting, having announced in July that it had “started an evaluation process of the strategic options related to its subsidiaries”.

Categories:

Mobiel

Companies:

TIM,  Telecom Italia,  Nextel,  TIM Brasil

Countries:

Brazilië,  Italië

Tags:

Wireless, M&A buyouts & divestments

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