Brazil's antitrust watchdog Cade has not ruled out the possible division of wireless carrier TIM Participa��es SA into units to be bought up by local rivals, a government source familiar with the agency's reasoning told Reuters on Monday.Last week, Cade issued a decision requiring Spain's Telefonica SA to exit its indirect stake in TIM or find a new partner for its own local wireless unit, known as Vivo.In the ruling, Cade said TIM Brasil, as the local affiliate of Telecom Italia SpA is known, could not be sold entirely to another carrier operating in Brazil. That prohibition would not necessarily hold if TIM Brasil were broken into smaller units, the source said, adding that such a scenario would be evaluated on a case-by-case basis.That could leave more options open to Telefonica, whose plans to gradually increase its stake in Telecom Italia have been snagged by antitrust concerns in Brazil, where the two companies control over half of the domestic wireless market.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF fell by 0.06% or $-0.01/share to $15.76. In the past year, the shares have traded as low as $12.31 and as high as $18.05. On average, 1261170 shares of TEF exchange hands on a given day and today's volume is recorded at 773241.
Shares of TI traded higher by 1.55% or $0.14/share to $9.15. In the past year, the shares have traded as low as $6.20 and as high as $10.30. On average, 289195 shares of TI exchange hands on a given day and today's volume is recorded at 87447.
Shares of TI-A traded higher by 1.55% or $0.11/share to $7.21. In the past year, the shares have traded as low as $4.86 and as high as $8.72. On average, 63459 shares of TI-A exchange hands on a given day and today's volume is recorded at 26043.
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