A PYMNTS Company

Brazil: Nation lauds Telefonica competition efforts

By  |  July 23, 2014

Brazil’s communications authorities recognize the efforts of Spain’s Telefonica to address competition concerns in the nation, according to reports.

Communications Minister Paulo Bernardo said Wednesday that the wireless giant is “clearly working to address” the problems, according to reports, that have been mounting over Telefonica’s market share in the South American nation. Telefonica controls its Brazil unit as well as holds control over TIM Brasil through TIM’s parent company Telecom Italia, in which Telefonica has a stake.

Brazil competition authority CADE has pressured Telefonica to reduce its presence in the industry. Now, speculation is mounting that Telefonica is preparing a joint bid to break up TIM, though the company has denied the rumors.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.