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Friday, October 31, 2014

TIM Participações, controlling shareholder not aware of rival bid, (NYSE: OIBR), (NYSE: OIBR-C), (NYSE: TEF), (NYSE: TI), (NYSE: TI-A)

TIM Participa��es SA, the Brazilian wireless carrier controlled by Telecom Italia SpA, is not aware of any attempt by its three rivals in the country to place a bid for it and break it up. In a securities filing unveiled on Friday, TIM said neither Telecom Italia nor its board of directors are involved in talks regarding a potential sale of the company. The parties are not aware of any agreement between rivals Mexico's America Movil SAB, Spain's Telefonica SA and Brazil's Grupo Oi SA to purchase TIM Participa��es, the filing added.

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 10.96% or $0.0548/share to $0.55. 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 10066737.

Shares of OIBR-C traded higher by 12.5% or $0.065/share to $0.58. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 378080.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 1.63% or $0.24/share to $14.93. 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 391456.

Shares of TI traded higher by 3.4% or $0.37/share to $11.24. 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 25707.

Shares of TI-A traded higher by 1.85% or $0.16/share to $8.79. 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 18235.



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