After a start with the minus sign, the Telecom title quickly turns positive after the spread of the news that Oi and Tim Brasil they would be close to an agreement on the fusion. So in a few minutes le Telecom Italia quotations have risen dramatically and recorded at 11,25 a rise of 3%.
La Brazilian company Oi announced that he had received a letter from the Russian investment fund LetterOne, focused on telecommunications and technology, in which the latter is willing to invest 4 billion dollars in the context of a possible merger with the other Brazilian telecommunications operator Tim Brasil, a subsidiary of Telecom Italia.
The LetterOne fund was founded and is currently chaired by Russian billionaire Mikhail Fridman who, according to Forbes magazine, has personal assets of $14,6 billion, making him the second richest Russian in the world.
