Brazilian telecommunications provider Oi SA said on Monday it has not entered into any agreement to join a group of rivals to purchase Telecom Italia SpA's stake in Brazilian phone company TIM Participacoes SA. "As of this date there has not been any definition or accord with relation to a structure for this operation, nor have any instruments or proposals outlining such an operation been signed," Oi said in a statement responding to questions from Brazil's securities regulator, the CVM.In August Oi announced that it had hired Grupo BTG Pactual to act as its representative and develop plans for a possible purchase of Telecom Italia's stake in TIM Participacoes."Contact with other participants in the market that might be interested in this operation is one of the roles for BTG Pactual in its position of the company's representative in the operation," the statement said.The statement was made in response to the regulator's questions about an article published in the Folha de S. Paulo newspaper on Friday saying that Oi; Vivo, controlled by Spain's Telefonica SA ; and Claro, controlled by Mexican billionaire Carlos Slim's America Movil SAB, had agreed to make a joint offer for TIM Participacoes.
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 3.58% or $0.019/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, 11796500 shares of OIBR exchange hands on a given day and today's volume is recorded at 18987728.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF fell by 0.13% or $-0.02/share to $14.96. In the past year, the shares have traded as low as $13.76 and as high as $17.51. On average, 1058930 shares of TEF exchange hands on a given day and today's volume is recorded at 1639155.
TIM Participacoes SA (TIM) is a Brazil-based holding company engaged in the telecommunications segment. Shares of TSU fell by 2.65% or $-0.73/share to $26.79. In the past year, the shares have traded as low as $21.64 and as high as $30.52. On average, 1538130 shares of TSU exchange hands on a given day and today's volume is recorded at 2744867.
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