Brazil's Grupo Oi SA, Mexico's America Movil SAB and Spain's Telefonica SA agreed to place a joint bid worth around 32 billion reais ($13 billion) for control of TIM Participa��es SA, Brazil's No. 2 wireless carrier, two sources with direct knowledge of the situation said on Friday. While the accord is not yet finalized, the companies agreed to present a single offer to Telecom Italia SpA, which owns about 67 percent of TIM Participa��es, said the first source, who requested anonymity since the deal is in the works.A bid could be presented within two weeks, both sources added. The first source said Oi, America Movil and Telefonica hope their bid will not meet too much resistance from antitrust and industry watchdogs in Brazil.($1 = 2.4550 Brazilian reais)
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 7.4% or $0.037/share to $0.54. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 11540800 shares of OIBR exchange hands on a given day and today's volume is recorded at 20133408.
Shares of OIBR-C traded higher by 9.31% or $0.0484/share to $0.57. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 1090297.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 2.11% or $0.31/share to $15.00. In the past year, the shares have traded as low as $13.76 and as high as $17.63. On average, 1065450 shares of TEF exchange hands on a given day and today's volume is recorded at 794531.
Shares of TI traded higher by 3.22% or $0.35/share to $11.22. In the past year, the shares have traded as low as $8.80 and as high as $13.54. On average, 145292 shares of TI exchange hands on a given day and today's volume is recorded at 63993.
Shares of TI-A traded higher by 2.55% or $0.22/share to $8.85. In the past year, the shares have traded as low as $7.05 and as high as $10.62. On average, 43758 shares of TI-A exchange hands on a given day and today's volume is recorded at 30339.
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