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Brazil: Not so fast, says Telecom Italia on Tim breakup

By  |  December 10, 2013

A day after reports said Telecom Italia’s Brazilian unit Tim may be facing a breakup, the wireless firm denied the rumors, emphasizing the strategic importance of Tim for the Italian firm.

Brazilian competition authority CADE was said to be considering such a breakup to ease competition concerns over a deal currently pursued by Spain’s Telefonica.

Telefonica is looking to acquire Telecom Italia partner Telco; the deal would up Telefonica’s influence in Brazil, as it already owns its own Brazil-based unit Vivo.

Full Content: Reuters

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