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Brazil: CADE facing possible lawsuit from Spain’s Telefonica

By  |  December 13, 2013

Spain telecom giant Telefonica said Friday it is considering legal action against Brazil’s antitrust authority CADE for what the company considers “not reasonable” requirements for Telefonica’s buyout that would give the company control over wireless firm Tim.

Tim is Telecom Italia’s Brazilian unit; Telefonica already has its own Brazilian unit Vivo. CADE is demanding that Telefonica either find a partner to fun Vivo or to divest Time.

In a statement, Telefonica said it is “analyzing the possibility of launching relevant legal action” against CADE.

Full Content: Reuters

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