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Wednesday, November 5, 2014

Brazil communications minister says carriers denied deal for TIM, (NYSE: OIBR), (NYSE: OIBR-C), (NYSE: TEF), (NYSE: TI), (NYSE: TI-A)

Brazil Communications Minister Paulo Bernardo said on Wednesday that operators Oi, Claro and Vivo denied to him that they had reached a deal to make a joint bid for rival TIM. On Friday, two sources told Reuters that Oi SA and the local units of America Movil SAB and Telefonica SA had agreed to offer a combined 32 billion reais ($13 billion) for TIM Participa��es SA , the Brazil division of Telecom Italia SpA.

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 11.09% or $-0.0609/share to $0.49. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 11976800 shares of OIBR exchange hands on a given day and today's volume is recorded at 9100459.

Shares of OIBR-C fell by 11.4% or $-0.065/share to $0.50. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 728521.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF fell by 0.74% or $-0.11/share to $14.85. In the past year, the shares have traded as low as $13.76 and as high as $17.51. On average, 1152520 shares of TEF exchange hands on a given day and today's volume is recorded at 6116201.

Shares of TI fell by 2.67% or $-0.3/share to $10.93. In the past year, the shares have traded as low as $8.80 and as high as $13.54. On average, 146262 shares of TI exchange hands on a given day and today's volume is recorded at 89798.

Shares of TI-A fell by 1.93% or $-0.17/share to $8.66. In the past year, the shares have traded as low as $7.05 and as high as $10.62. On average, 44203 shares of TI-A exchange hands on a given day and today's volume is recorded at 26957.



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