Telefonica Brasil and TIM to Consider Acquisition of Oi's Assets In Brazil

Brazilian carriers Telefonica Brasil and TIM Participações will consider acquiring assets from struggling rival Oi SA if they are put up for sale, executives from both companies said on Tuesday, Reuters reported. In September, Reuters reported that Oi was in talks with the local subsidiaries of Spain’s Telefonica SA and Telecom Italia SpA to sell assets and avoid insolvency. “As the CEO of a publicly traded carrier, I have the duty to check whether or not it creates value to my shareholders once frequencies or backhauls (infrastructure networks) are made available,” TIM’s Chief Executive Pietro Labriola told reporters on the sidelines of Futurecom, a major telecoms event in Sao Paulo. Meanwhile, Telefonica Brasil Chief Executive Officer Christian Gebara said the company would consider acquiring Oi’s mobile operation for its frequencies. Read more