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Mexico: Carlos Slim eyes telco grab in Brazil

By  |  September 9, 2014

Carlos Slim’s telecommunications giant America Movil is said to be in talks with Brazil-based Oi for a potential joint bid of TIM, say reports.

TIM Brasil, the nation’s number-two wireless company, is up for grabs after Spain’s Telefonica was ordered by Brazilian regulators to lessen its presence in the nation through divesting its indirect ownership of TIM.

Now, Mexico’s America Movil could grab at the opportunity to expand its presence across South America. The company confirmed this week that it has been in discussions with Oi to partner up for a joint TIM bid, telling reporters that America Movil has “decided in principle to explore this option.”

Oi has been reported to be exploring an $8 billion acquisition of TIM.

Full content: Telegeography

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