Vivo, Oi, America Movil to jointly bid for TIM - report

Thursday 26 June 2014 | 11:37 CET | News
Telefonica Vivo, Oi and America Movil (owner of Claro, Net and Embratel in Brazil) are very close to making an offer for the Brazilian subsidiary of Telecom Italia, reports Valor Economico citing market sources. The plan would be to formalize a takeover bid led by Oi, and then divide TIM with the other two competitors. TIM's share price has been increasing amid market hopes for the bid from the "three amigos". TIM said that the share price movement and was not related to a specific topic. The market expects a deal should be announced before the planned auction of 700 MHz band spectrum later

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Categories: Mobile & Wireless
Companies: America Movil / Claro / Embratel / Oi / Telecom Italia / Telefonica / TIM Brasil / Vivo
Countries: Brazil
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