Oi SA looks to jump on consolidation bandwagon

27 Aug 2014

Brazilian-owned telecoms operator Oi SA is said to be reviewing its options to acquire a USD8 billion stake in fellow operator TIM Participacoes (TIM Brasil) as consolidation in the LatAm market ratchets up another notch. Bloomberg reports that Oi SA, the country’s smallest mobile operator by subscribers, has instructed BTG Pactual to review its options ‘with the purpose of enabling a viable proposal for the acquisition of the shares of TIM’ indirectly held by Telecom Italia (TI), which owns about 67% of TIM Brasil, which has a market value of more than USD12 billion. Rio De Janeiro-based Oi SA has launched the review as rivals Telefonica Brasil (Vivo) and TIM Brasil seek to enlarge their own circle through the purchase of broadband provider Global Village Telecom (GVT) from France media group Vivendi. Oi is obviously keen not to be dwarfed by its rivals’ acquisition efforts and sees a bid for TIM – Brazil’s second largest cellular operator – as a means to achieve this.

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