Brazilian telecommunications company Grupo Oi SA said on Tuesday it did not plan to participate in an auction for broadcast spectrum next week, adding to speculation of an upcoming takeover in a highly competitive wireless market.Any Brazilian wireless carrier left out of the fourth-generation (4G) spectrum auction is likely to face merger pressure from other players, the superintendent of competition at telecom regulator Anatel told Reuters in July.Oi was not immediately available for comment.The upcoming auction will be of bandwidth in the 700 MHz range, which offers far more cost-effective 4G coverage than the 2.5 GHz spectrum auctioned in 2012. Rivals Telefonica Brasil SA , TIM Participa��es SA and the Claro unit of Mexico's America Movil SAB de CV handed in their sealed offers on Tuesday.
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 1.47% or $-0.38/share to $25.47. In the past year, the shares have traded as low as $19.02 and as high as $26.95. On average, 5922380 shares of AMX exchange hands on a given day and today's volume is recorded at 981386.
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 1.15% or $0.0082/share to $0.72. In the past year, the shares have traded as low as $0.51 and as high as $2.34. On average, 16904700 shares of OIBR exchange hands on a given day and today's volume is recorded at 335518.
Telefonica Brasil SA, formerly Telecomunicacoes de Sao Paulo SA - Telesp, is a Brazil-based company engaged in the telecommunications sector. Shares of VIV fell by 0.49% or $-0.105/share to $21.18. In the past year, the shares have traded as low as $17.78 and as high as $23.57. On average, 1742600 shares of VIV exchange hands on a given day and today's volume is recorded at 347458.
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