Tim raise up Oi. Through the Brazilian subsidiary Tim Participacoes, the Italian group has extended and increased the binding offer for the mobile business of the carioca group submitted on July 18 together with Telefonica – which operates in Brazil with Living - it's at Clear. The joint proposal thus rises to 16,5 billion reais, equal to approximately 2,7 billion euros, and also provides for the possibility of signing long-term contracts for the use of the Oì group's infrastructure.
The new offer is subject to certain conditions, such as the one that provides for the "selection as first bidder”. Basically – on the basis of this principle – Tim, Telefonica and Claro would have the right to match any better offer than theirs in the auction for Oì's mobile assets which should be held in the autumn.
"The revision of the binding offer reaffirms Tim's interest in the acquisition of the mobile assets of the Oi Group - the company said - as well as in contributing to the continuous development of mobile telephony in the country".
The operation, “if it were to be concluded successfully – concludes the note – will bring benefits to shareholders and customers thanks to the further expected growth, the expected synergies and the improvement of the quality of the service.
In recent days, Oi had announced that it had given exclusive rights to the negotiation, with the right to match the highest bids during the auction, to the infrastructure operator Highline.
Tuesday morning Tim's share on the Stock Exchange travels slightly up (+0,22%, to 0,3635 euros), while the Ftse Mib is slightly below parity.
