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Friday, October 3, 2014

Brazil's TIM hires Bradesco to explore bid for rival Oi, source says, (NYSE: OIBR), (NYSE: OIBR-C), (NYSE: TI), (NYSE: TI-A)

Brazil's TIM Participa��es SA hired Banco Bradesco's investment banking unit to analyze a potential bid for rival Grupo Oi SA , a source with knowledge of the situation told Reuters on Friday. TIM Participa��es, the Brazilian wireless carrier controlled by Telecom Italia SpA, and Bradesco declined to comment.

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 0.94% or $0.0061/share to $0.66. In the past year, the shares have traded as low as $0.51 and as high as $2.09. On average, 15982500 shares of OIBR exchange hands on a given day and today's volume is recorded at 9845555.

Shares of OIBR-C traded higher by 3.95% or $0.0261/share to $0.69. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 251943.

Shares of TI fell by 0.45% or $-0.05/share to $10.99. In the past year, the shares have traded as low as $8.23 and as high as $13.54. On average, 139642 shares of TI exchange hands on a given day and today's volume is recorded at 68391.

Shares of TI-A traded higher by 1.41% or $0.12/share to $8.63. In the past year, the shares have traded as low as $6.55 and as high as $10.62. On average, 20864 shares of TI-A exchange hands on a given day and today's volume is recorded at 13404.



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