Shares of Brazilian wireless carrier TIM Participa��es SA rose on Wednesday after its parent company, Telecom Italia SpA, said it is not in talks to take over rival Grupo Oi SA.TIM said in a securities filing that Telecom Italia had denied any negotiations following a Bloomberg report on Tuesday of a potential deal to counter Spanish rival Telefonica SA in Latin America's largest market.Shares of TIM rose 3 percent in Sao Paulo trading, among the biggest gains on the Bovespa stock index, after slumping 4 percent on Tuesday.Oi shares also gained 3 percent, touching a two-month high. In Milan, shares of Telecom Italia closed up 1.6 percent at 0.91 euro
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 1.66% or $0.0116/share to $0.71. In the past year, the shares have traded as low as $0.51 and as high as $2.34. On average, 16803900 shares of OIBR exchange hands on a given day and today's volume is recorded at 5742696.
Shares of OIBR-C traded higher by 5.23% or $0.037/share to $0.74. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 601761.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 1.03% or $0.16/share to $15.65. In the past year, the shares have traded as low as $14.86 and as high as $18.05. On average, 1036860 shares of TEF exchange hands on a given day and today's volume is recorded at 281324.
Shares of TI traded higher by 1.46% or $0.17/share to $11.80. In the past year, the shares have traded as low as $7.66 and as high as $13.54. On average, 97480 shares of TI exchange hands on a given day and today's volume is recorded at 37721.
Shares of TI-A traded higher by 0.32% or $0.03/share to $9.38. In the past year, the shares have traded as low as $6.13 and as high as $10.62. On average, 20683 shares of TI-A exchange hands on a given day and today's volume is recorded at 8993.
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