A group of Brazilian telecoms operators are now ready to bid for rival TIM Participa��es SA, a source with knowledge of the situation said, after the group's leader, Oi SA, got the go-ahead to sell its Portuguese business.However, top management at Telecom Italia SpA, TIM's majority owner, is preparing for a meeting with Brazilian officials next week to put out feelers before deciding whether to turn the tables and make their own bid for Oi, two other sources familiar with the plans said.Shareholders at Oi's merger partner Portugal Telecom SGPS finally approved the 7.4 billion-euro ($8.3 billion) sale of PT Portugal to European rival Altice SA on Thursday, despite stiff opposition from minority shareholders.With that hurdle cleared, the first source said Oi and the Brazilian units of Mexico's America Movil and Spain's Telefonica can move ahead with a joint offer for TIM, coordinated by investment bank Grupo BTG Pactual SA.
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 5.17% or $-0.15/share to $2.75. In the past year, the shares have traded as low as $0.40 and as high as $18.50. On average, 1866460 shares of OIBR exchange hands on a given day and today's volume is recorded at 9479528.
Shares of OIBR-C fell by 4.64% or $-0.14/share to $2.88. On average, 0 shares of OIBR-C exchange hands on a given day and today's volume is recorded at 519612.
Shares of TI traded higher by 1.52% or $0.17/share to $11.36. In the past year, the shares have traded as low as $9.46 and as high as $13.54. On average, 129339 shares of TI exchange hands on a given day and today's volume is recorded at 97382.
Shares of TI-A traded higher by 2.71% or $0.24/share to $9.11. In the past year, the shares have traded as low as $7.42 and as high as $10.62. On average, 36779 shares of TI-A exchange hands on a given day and today's volume is recorded at 28330.
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