TI says not in talks with Oi SA

18 Sep 2014

In the wake of recent media reports saying that Telecom Italia (TI) is considering plans to take control of Brazilian-owned Oi SA, the Milan-based giant has submitted a securities filing through its Brazil unit TIM Participacoes (TIM Brasil) denying that it is in talks with Oi over a deal. Shares in the latter surged on the stock market after media speculation grew suggesting that TI was considering a takeover of Oi to counter Spain’s Telefonica in Latin America’s biggest telecoms market.

As reported by CommsUpdate yesterday, Bloomberg claimed that TI has apparently approached a number of financial advisers about a plan to acquire Brazilian-owned operator Oi through TIM Brasil, although sources who asked not to be identified as the discussions are private, said that no formal approach has been made at this time.

Brazil, Oi, Telecom Italia (TIM)