Brazil's government has no preferred model for consolidation of the country's telecom market, a source told Reuters on Thursday, leaving behind the days when Brazilian telecom company Oi SA was held up as a "national champion". As long as companies continue investing in their networks and offering competitive services, the government is not concerned about the widely anticipated shift from four major carriers to three, said the source on condition of anonymity.Oi has been in talks with Spain's Telefonica SA and Mexico's America Movil SAB about making a joint bid to purchase rival TIM Participa��es SA and dividing it three ways.TIM majority owner Telecom Italia SpA, however, is also mulling a takeover of Oi, raising questions about which option might be favored by the government, which has played an active role in the industry in recent years.President Dilma Rousseff's predecessor and political mentor Luiz Inacio Lula da Silva championed the merger that created Oi in 2008 as the birth of a national "super telecom" that could go toe-to-toe with foreign rivals Telefonica and America Movil.
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 3.21% or $-0.07/share to $2.11. In the past year, the shares have traded as low as $0.40 and as high as $18.50. On average, 2218380 shares of OIBR exchange hands on a given day and today's volume is recorded at 4144448.
Shares of OIBR-C fell by 3.06% or $-0.07/share to $2.22. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 14244.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF traded higher by 2.98% or $0.44/share to $15.19. In the past year, the shares have traded as low as $13.27 and as high as $17.51. On average, 1597060 shares of TEF exchange hands on a given day and today's volume is recorded at 1205341.
Shares of TI traded higher by 3.21% or $0.36/share to $11.56. In the past year, the shares have traded as low as $9.46 and as high as $13.54. On average, 131531 shares of TI exchange hands on a given day and today's volume is recorded at 89025.
Shares of TI-A traded higher by 3.53% or $0.32/share to $9.39. In the past year, the shares have traded as low as $7.42 and as high as $10.62. On average, 30819 shares of TI-A exchange hands on a given day and today's volume is recorded at 39029.
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