Brazilian telecom Grupo Oi SA reiterated on Wednesday it had commissioned investment bank BTG Pactual to seek possible partners in a joint bid for rival wireless carrier TIM Participa��es SA. Oi neither confirmed nor denied reports that BTG is reaching out to Spain's Telefonica SA and Mexico's America Movil SAB de CV in a deal that would break up the local unit of Telecom Italia SpA."BTG Pactual's role is to make contact with any entity that could participate in the operation, even in light of potential regulatory and competitive restrictions that could result," Oi said in a regulatory filing."(Oi) is still not involved, at this point, in any formal negotiations with any third parties on this subject," the company added.Carlos Slim's America Movil confirmed on Monday that it plans to hold talks with Oi to make a joint bid for TIM. Telefonica has failed to comment on the rumors, which gained steam since late last year.
America Movil SAB de CV is a Mexico-based company, which is primarily engaged in the provision of wireless communications services in Latin America. Shares of AMX fell by 0.96% or $-0.25/share to $25.72. In the past year, the shares have traded as low as $19.02 and as high as $26.87. On average, 5633080 shares of AMX exchange hands on a given day and today's volume is recorded at 5021670.
Oi SA, formerly Brasil Telecom SA, is a Brazil-based holding company engaged in the provision of Switched Fixed-line Telephony Services (STFC) domestically and internationally. Shares of OIBR traded higher by 1.83% or $0.0121/share to $0.67. In the past year, the shares have traded as low as $0.51 and as high as $2.34. On average, 16454800 shares of OIBR exchange hands on a given day and today's volume is recorded at 12936942.
Shares of OIBR-C traded higher by 2.56% or $0.0178/share to $0.71. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 1292256.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF fell by 0.89% or $-0.14/share to $15.64. In the past year, the shares have traded as low as $14.57 and as high as $18.05. On average, 999231 shares of TEF exchange hands on a given day and today's volume is recorded at 1474086.
Shares of TI traded higher by 0.59% or $0.07/share to $11.91. In the past year, the shares have traded as low as $7.66 and as high as $13.54. On average, 83022 shares of TI exchange hands on a given day and today's volume is recorded at 29419.
Shares of TI-A traded higher by 0.11% or $0.01/share to $9.45. In the past year, the shares have traded as low as $6.13 and as high as $10.62. On average, 20956 shares of TI-A exchange hands on a given day and today's volume is recorded at 5967.
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