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VIV - Telefonica Brasil SA News Story

$7.98 0.2  2.7%

Last Trade - 05/03/21

Sector
Telecoms
Size
Large Cap
Market Cap £13.02bn
Enterprise Value £13.97bn
Revenue £5.48bn
Position in Universe 617th / 6651

BREAKINGVIEWS-Three-pronged Brazil mobile assault can succeed

Tue 28th July, 2020 11:05am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Lisa Jucca MILAN, July 28 (Reuters Breakingviews) - Telecom Italia, Telefonica and America Movil have offered $3 bln to buy the wireless business of bankrupt Oi. With an established presence in Brazil, the three have an edge over a rival private equity offer. With the price already full, however, a bidding war could get costly. Full view will be published shortly. On Twitter https://twitter.com/LJucca CONTEXT NEWS - A consortium comprising TIM Participacoes, majority-owned by Telecom Italia, Telefonica Brasil and America Movil's Claro have raised its bid to buy the mobile assets of Brazilian telecom group Oi out of bankruptcy for 16.5 billion reais ($3.21 billion), Reuters reported on July 28. - The new offer comes after Oi said it had begun exclusive talks with another potential buyer, called Highline do Brasil, a portfolio company of U.S. private equity firm Digital Colony Management, Reuters added. - Oi has not disclosed the value of Highline’s offer, but said it was above 15 billion reais. - For previous columns by the author, Reuters customers can click on JUCCA/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ TIM, Telefonica and Claro raise bid to buy Oi's assets to $3.21 billion urn:newsml:reuters.com:*:nL2N2EZ04V ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Neil Unmack and Karen Kwok) ((lisa.jucca@thomsonreuters.com ; Reuters Messaging: lisa.jucca.thomsonreuters.com@reuters.net))
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