Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Telecom Italia board could meet on Brazil options next week - sources

Published 11/11/2014, 12:59
Updated 11/11/2014, 13:00
© Reuters Telecom Italia tower in Rome
TLIT
-
OIBRQ
-
TIMS3
-

MILAN (Reuters) - The board of Telecom Italia (MI:TLIT) could meet as early as next week to discuss possible M&A operations in Brazil, two sources familiar with the situation told Reuters on Tuesday.

Telecom Italia controls Brazil's No. 2 wireless operator TIM Participacoes (SA:TIMP3), which is seen as a likely candidate to take part in an expected consolidation of the local market.

One of the sources said among the operations that could be examined was a tie-up with Brazilian telecoms operator Oi (SA:OIBR).

According to the sources the board could give Telecom Italia's management a mandate to carry out an in-depth evaluation of some options. Any operation would take time and it is not certain that it would be successful, the sources added.

Telecom Italia declined to comment.

© Reuters. Telecom Italia tower in Rome

On Friday, Telecom Italia CEO Marco Patuano said the group was ready to explore the possibility of buying or merging with Oi.

(Reporting by Danilo Masoni, editing by Silvia Aloisi)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.