TIM Participacoes (TIM Brasil) is considering lodging a takeover bid for its smaller rival Nextel Brasil, as it seeks to boost its market share and increase its spectrum holdings. According to Bloomberg, which cites people familiar with the matter, Telecom Italia (TIM) CEO Amos Genish is expected to discuss the deal at the group’s planned board meeting on 24 September, and potentially hire advisers to explore a tie-up. TeleGeography notes that Mr Genish knows the Brazilian market well; he previously served as CEO at ISP Global Village Telecom (GVT), which was acquired by Telefonica Brasil (Vivo) in May 2015. He went on to occupy the same position at Vivo, before joining TIM.
As previously reported by TeleGeography’s CommsUpdate, in June 2018 US-based NII Holdings hired financial advisory group Rothschild & Co to sell its 70% stake in Nextel Brasil. The remaining 30% stake has been held by Access Industries, a firm backed by Ukrainian-born American industrialist Len Blavatnik, since June 2018. Access Industries acquired the stake from Scandinavian telecoms firm Ice Group for USD70 million, valuing Nextel Brasil at around USD280 million.