Mexico's America Movil plans to hold talks with Brazil's Oi SA over joining its bid to purchase wireless operator Tim Participacoes SA, the company's chief financial officer said on Monday."Oi presented an offer for TIM and has said that they could include other operators," CFO Carlos Garcia Moreno said via email. "We have decided in principle to explore this option. We will be talking with them."Garcia Moreno told Bloomberg earlier in the day that financing the possible deal for Brazil's second biggest wireless company would not be a problem, and that the company would likely incur some debt.Oi unveiled plans in August to take over TIM, which is majority-owned by Telecom Italia, saying it wanted to bring in America Movil and Spain's Telefonica to split the deal three ways.
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 1.4% or $0.0101/share to $0.73. In the past year, the shares have traded as low as $0.51 and as high as $2.34. On average, 16670600 shares of OIBR exchange hands on a given day and today's volume is recorded at 14362758.
TIM Participacoes SA (TIM) is a Brazil-based holding company engaged in the telecommunications segment. Shares of TSU traded higher by 5.71% or $1.6/share to $29.60. In the past year, the shares have traded as low as $21.68 and as high as $30.52. On average, 985592 shares of TSU exchange hands on a given day and today's volume is recorded at 2539373.
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