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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

Telefonica, TIM and Claro in exclusive talks for Brazil's Oi mobile assets

Fri 7th August, 2020 10:36pm
SAO PAULO, Aug 7 (Reuters) - Brazilian telecoms firm Oi SA
 OIBR4.SA  on Friday agreed to grant preferential status to a
joint takeover proposal by TIM Participacoes  TIMP3.SA ,
Telefonica Brasil  VIVT4.SA  and America Movil's Claro  AMXL.MX 
for Oi's mobile assets, two sources familiar with the matter
said.
    The agreement would give the companies, which operate the
country's top cellular phone service providers, the exclusive
right to match any other higher bid that other parties could
make later for the assets.
    In July, the three telecoms presented a 16.5 billion reais
bid for the assets.

 (Reporting by Carolina Mandl; Editing by Christian Plumb)
 ((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11
97116-3806;))
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