This site uses technical, analytics and third-party cookies.
By continuing to browse, you accept the use of cookies.

Preferences cookies

Italian Economic Diplomacy 16 December: latest news from around the world

BRAZIL – TIM-LED CONSORTIUM WINS THE TENDER FOR THE ACQUISITION OF OI

TIM Brazil, Vivo (a subsidiary of Spain’s Telefonica) and Claro (a subsidiary of Mexico’s America Movil) have won the tender for the acquisition of the mobile segment of Brazilian operator Oi (33.7 million customers). According to TIM Brazil, the Italian company will take the largest share of the deal, paying a value in Reais of 7.3 billion, around 1.2 billion Euro, equal to 44% of the total, plus around 80 million Euro as an additional consideration to Oi. Tim will acquire 14.5 million new customers from Oi, representing 40% of the total: 54% of the frequencies and 49% of the infrastructure, approximately 7,200 mobile access sites.

As a result of this transaction, TIM will become the second-largest mobile operator in Brazil, increasing its share from 23% to 32%.