Telecom Italia sets EUR13bn asking price for TIM Brasil stake

10 Sep 2014

Bloomberg reports that Telecom Italia (TI) is asking for at least EUR13 billion (USD16.8 billion) for its 67% stake in Brazilian wireless carrier TIM Participacoes (TIM Brasil), valuing the company at around EUR20 billion – or a 73% premium over its stock value on Monday in Sao Paulo. The Italians are looking to sell off the majority stake, it says, after it lost out to rival Telefonica in a bidding battle for Vivendi-owned Brazilian broadband operator Global Village Telecom (GVT) last week. Other companies reportedly in the hunt for TIM Brasil include locally owned Oi SA, and Mexico’s America Movil (AM) – which are considering a joint bid for the operator.

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