TIM's shares rise after Brazil's antitrust OKs Oi deal

Telefonica Brasil, SA

10/02/2022 12:59

** Shares in Telecom Italia (TIM)  TLIT.MI  rise as much as 4.2%
after the Brazilian antitrust authority, Cade, gives the
go-ahead for the sale of the mobile assets of Brazilian telecoms
group Oi  OIBR3.SA  to TIM Brasil  TIMS3.SA , Telefonica Brasil
 VIVT3.SA  and Claro
** "The consolidation of Oi's mobile assets should drive TIM
Brasil's organic EBITDA AL growth from mid-single digit to
double digit over 2020-23 and imply a cash-out of 1.2 billion
euros, according to TIM's business plan," Intesa Sanpaolo's
analysts say in a note
** By 1230 the stock is up 2.9%, top performer on Italy's blue
chip index  .FTMIB 

 (Reporting by Federica Urso)