July 20, 2018 / 2:50 PM / 3 months ago

TIM Participacoes sees no 'specific' merger opportunities; eyes long-term consolidation

SAO PAULO, July 20 (Reuters) - TIM Participacoes SA , the Brazilian unit of Telecom Italia SpA, does not see specific M&A opportunities at the moment, but consolidation is likely in Brazil’s telecom sector within the next two years and the carrier wants to take part in that process, executives said on Friday.

In the short-term, the fiber optic unit of state utility Companhia Energetica de Minas Gerais SA, known as Cemig, and NII Holding Inc’s wireless unit Nextel are on the block. In the long-term, debt-laden competitor Oi SA is also seen as a potential acquisition target.

Speaking to analysts and journalists after the release of second quarter results, the executives said the price would determine whether or not an acquisition of the Cemig unit would make sense.

Reporting by Gram Slattery

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