TI sale of Brasil Telecom could be on the cards, paper says

13 Jul 2007

Telecom Italia (TI) is said to be close to finalising the sale of its stake in Brasil Telecom for USD550 million, reports the Italian daily Il Sole 24 Ore, without providing sources. TI has a 38% equity interest in Solpart which controls 51% of Brasil Telecom and is said to be close to agreeing a deal with the Brazilian government. The Italian firm confirmed its intention to sell its stake last year and placed its holding in a trust managed by Credit Suisse. Il Sole 24 Ore says the Brazilian government plans to merge Brasil Telecom with rival operator Telemar (Oi).

Brazil, Brasil Telecom (BrT), Telecom Italia (TIM)