Brasil Telecom expresses interest in TIM Brasil assets

13 Sep 2006

Brazil’s third largest communications company Brasil Telecom Participacoes (Brasil Telecom) says it would be interested in acquiring mobile rival TIM Brasil Servicos e Participacoes if the latter’s parent, Telecom Italia, decides to sell the company. Bloomberg cites Brasil Telecom’s corporate governance director Fabio Moser as saying that the telco would consider buying some of the assets to help it expand its mobile business beyond its concession areas in Brazil. ‘We are interested because Brasil Telecom needs to find ways to grow,‘’ Moser, said. ‘We won’t become a top player in wireless services in Brazil just by growing organically in our concession areas. . . The company is looking at several possibilities and hasn’t made any offers’, he added. Moser said the company has about BRL3 billion (USD1.4 billion) in cash and is looking for acquisitions.

Brazil, Brasil Telecom (BrT), TIM Brasil