Oi telecom to bid for Telecom Italia shareMd Noman Siddique (Author) Published Date : Aug 28, 2014 06:24 IST
Telecom Italia might have yet another offer from the Brazilian telecom giant Oi as the fight between the firms at the Brazilian telecom market is gaining much attention recently.
Recently the fight among the top telecom giants has reached another level as the firms are willing to increase its grip on the high speed fixed lines in the country. And after the mobile growth has been on the slower sides the firms are looking add more options on their services such as pay-TV along with other broadband facilities to its users.
On the other hand Oi is looking to reduce its operator from four to three and willing to get into the competition.
But Oi has been suffering from debt issues as the Brazilian firm had a debt of $46 billion after it had the merger with Portugal Telecom as there are questions revolving that either Oi could be able to bid for Telecom Italia s Tim Brasil alone.
However Oi informed that they have appointed BTG Pactual as their agent or commissioner to review the issue of acquiring Telecom Italia s share from their side.
But according to an investor requesting anonymity Oi have to tag with some other firm to acquire the Telecom Italia s share.
According to the investor, It's a statement of intent, said the person, adding that it remained unclear who else would take part. Mexico's America Movil could be one option given its ownership of Claro, the number three mobile firm in Brazil.
Oi telecom to bid for Telecom Italia share