Tim Partecipacoes takes flight on the São Paulo Stock Exchange, gaining 7,99% on rumors of a possible offer for Telecom Italia's Brazilian operations by Oi, in partnership with Claro and with Mexican tycoon Carlos' America Movil Slim.
Indiscretions have emerged from Brazil regarding the offer, which could be presented by the end of the month. Oi, together with Vivo (controlled by America Movil) and Claro, according to the newspaper Estadao, would put 10 billion euros on the plate, a figure in line with the valuation of Tim Brazil's Stock Exchange.
A confirmation also came from the financial director of America Movil, Carlos Garcia-Moreno, who confirmed contacts with Oi in an interview with Bloomberg. The top management of Telecom Italia, however, in recent days reiterated that the Brazilian subsidiary is strategic and that the group is planning an acceleration of investments in mobile ultra-broadband.
