Brazilian telecom operator Oi SA is open-minded about merger options, its chief executive officer said on Thursday, as it reported third-quarter profit plunged, further evidence of increased pressure in a crowded market.CEO Bayard Gontijo said stiff competition, tougher regulations and more costly investments were squeezing the profitability of carriers in Brazil."The best way to repair this is through consolidation, and we think it's the right time for that in Brazil," Gontijo told analysts on an earnings conference call. "We are ready to lead the process and we have no prejudice to how it is going to happen."Oi has approached Telefonica SA and America Movil SAB about making a joint bid for TIM Participa�oes SA, the local unit of Telecom Italia SpA. But the Telecom Italia CEO said last week his company should also consider making an offer to purchase Oi.
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 1.87% or $0.0095/share to $0.52. In the past year, the shares have traded as low as $0.40 and as high as $1.97. On average, 11400300 shares of OIBR exchange hands on a given day and today's volume is recorded at 192921.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 0.4% or $0.06/share to $15.19. In the past year, the shares have traded as low as $13.76 and as high as $17.51. On average, 1138750 shares of TEF exchange hands on a given day and today's volume is recorded at 44606.
Shares of TI fell by 0.09% or $-0.01/share to $10.81. In the past year, the shares have traded as low as $8.80 and as high as $13.54. On average, 146274 shares of TI exchange hands on a given day and today's volume is recorded at 5592.
Shares of TI-A fell by 0.35% or $-0.03/share to $8.52. In the past year, the shares have traded as low as $7.05 and as high as $10.62. On average, 43391 shares of TI-A exchange hands on a given day and today's volume is recorded at 6200.
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