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Wednesday, October 8, 2014

Brazil's TIM says Bradesco mandate not for Oi acquisition, (NYSE: BBD), (NYSE: BBDO), (NYSE: OIBR), (NYSE: TEF)

TIM Participa��es SA , Brazil's second-largest wireless carrier, said it hired Banco Bradesco SA to evaluate "strategic alternatives," but denied the mandate included bidding for rival Grupo Oi SA.In a securities filing on Wednesday, TIM said assistance from financial consultancies "does not constitute a mandate for the evaluation of an offer to purchase Oi." Reuters reported on Oct. 3 that TIM had hired Bradesco to consider a full or partial acquisition of Oi.Bradesco acted as one of TIM's advisers in its failed bid for GVT Participa��es SA, the Brazilian broadband provider acquired by Spain's Telefonica SA a few weeks ago.Shares of TIM shed 1.2 percent to 11.78 reais, while preferred shares of Oi dropped 2.6 percent to 1.61 reais in early Wednesday trading in S�o Paulo.

Banco Bradesco S/A (the Bank) is a Brazil-based bank. Shares of BBD fell by 1.21% or $-0.19/share to $15.53. In the past year, the shares have traded as low as $10.23 and as high as $18.67. On average, 8605760 shares of BBD exchange hands on a given day and today's volume is recorded at 2600194.

Shares of BBDO remained unchanged at $15.66. In the past year, the shares have traded as low as $11.50 and as high as $18.25. On average, 1418 shares of BBDO exchange hands on a given day and today's volume is recorded at 0.

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 fell by 3.77% or $-0.025/share to $0.64. In the past year, the shares have traded as low as $0.51 and as high as $2.09. On average, 15564300 shares of OIBR exchange hands on a given day and today's volume is recorded at 14173896.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 0.87% or $0.13/share to $15.10. In the past year, the shares have traded as low as $14.86 and as high as $18.05. On average, 1056230 shares of TEF exchange hands on a given day and today's volume is recorded at 212402.



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