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Brazil: Tim gets a $15B offer from telco trio

 |  December 10, 2014

A trio of companies is reportedly planning to offer $15 billion to acquire Brazil wireless operator Tim.

Unnamed sources say Oi, Telefonica and Claro are all planning to team up for the bid for the nation’s smallest wireless carrier. The transaction would be part of a broader shakeup for Brazilian and Portuguese wireless assets as Telecom Italia divests its 67 percent ownership in Tim and Oi unloads its Portuguese operations this week.

The bid would be submitted by financial vehicle Grupo BTG Pactual, which would then split the assets into three parts, reports say. Oi would take on 25 percent of the company, while the rest of the assets would be split between America Movil-owned Claro and Telefonica.

The companies have not yet confirmed the reports.

Full content: Bloomberg

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