Telefónica, TIM prepare offer for Oi's mobile business

Telefónica, TIM prepare offer for Oi's mobile business

M&A Telecoms Equity Brazil Europe

The Brazilian subsidiaries of Spain's Telefónica and Italy's TIM plan to present a joint offer to buy the mobile phone business of the local telecommunications company Oi, according to securities filings from Tuesday evening. Telefônica Brasil and TIM Brasil informed Oi's financial adviser, Bank of America, that they are interested in opening negotiations for a potential joint acquisition of Oi Móvel, either whole or in part, the two European companies said in separate statements. Telefónica and

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