Tim to conquer Brazil. The Italian group is preparing to conclude the acquisition of Oi mobile – the fourth mobile telephone operator in Brazil – on which Tim, together with the Spanish Telefonica, had already set its sights since March.
The Board of Directors has conferred on Tim's CEO, Luigi gubitosi, full powers for submit a binding offer which must be presented by the Brazilian subsidiary of the Group, Tim Participacoes, in compliance with local regulations.
Back in March, during the spread of the epidemiological crisis, Tim was aiming for the Brazilian company along with Vivo, a subsidiary of the Spanish Telefonica.
This is because the Italian group is already active on the Brazilian market with Tim Brasil. Its strong presence (about 24%) could constitute a risk for the acquisition, as it could end up in the crosshairs of the country's Antitrust.
In addition, the Brazilian company had presented a plan in mid-May which provides for the separation of the assets in the portfolio and which will be voted on by August. The project provides for the subdivision into 4 sectors: the towers, the data center, the mobile resources and, finally, the fiber infrastructure.
According to analysts, the sale should start in the last half of 2020 and be completed by 2021. At the end of March, Oi had around 35 million mobile customers, against Tim's 52,8 million.
The telecommunications sector index is moving in positive territory in Italy (+1,92%) compared to the flat performance of the index of the European telecommunications giants. Among the most important shares is Telecom Italia, the true protagonist of the Ftse Mib, which gained positions for almost the whole week, with a performance of 3,01%, supported by the debate on the need for the single network.
In the meantime, Tim's new corporate commercial is on the air, which tells the story of the Group and its mission to always connect the country, a journey that began in 1925.
